Rules Flashcards
(187 cards)
What is an assignment? (UWorld)
A transfer of all, or part of, the tenant’s interest under the lease to a third party for the remainder of the tenant’s lease term
What is a sublease? (UWorld)
A transfer of all, or part of, the tenant’s interest under the lease to a third party for less than the remainder of the tenant’s lease term.
Can evidence be used to establish a condition precedent that must occur before a contract becomes effective admissible under the Parol Evidence Rule? (UWorld)
Yes. Evidence used to establish a condition precedent that must occur before a contract becomes effective is admissible under the parol evidence rule.
What is a requirements contract? (UWorld)
A requirements contract is an exclusive agreement between the buyer and seller for as many goods as the buyer requires during a specific period.
What happens if a buyer fails to purchase the goods from a seller in a requirements contract? (UWorld)
The buyer’s failure to purchase the goods from the seller violates the implied duty of good faith and fair dealing and constitutes a breach of contract.
In a requirments contract, how is the quanity term sufficiently definite? (Uworld)
The quantity term is sufficiently definite in a requirements contract because the quantity can be made certain by reference to objective facts (ie, the buyer’s actual requirements).
Can consideration for a contract be valid even if it is not certain to occur? (Uworld)
Yes.
What is the implied warranty of habitability? (UWorld)
The implied warranty of habitability guarantees that a new home is habitable and fit for its intended purposes. This allows buyers to recover for losses caused by poor workmanship and, in most jurisdictions, allows subsequent purchasers to recover for losses caused by latent construction defects.
What is the majority rule if a remainder is subject to an ambiguous survivorship condition? (UWorld)
If a remainder is subject to an ambiguous survivorship condition (eg, “if she survives”), the majority rule is that the remainderman must survive the owner of the immediately preceding estate (eg, the life tenant) for the interest to become possessory. The minority rule is that the remainderman must survive the transferor.
When is unilateral mistake grounds to avoid a contract? (UWorld)
Unilateral mistake is not grounds to avoid a contract unless (1) the mistake would make enforcement of the contract unconscionable or (2) the nonmistaken party caused, or knew or had reason to know of, the mistake.
Are licenses revocable? (UWorld)
Yes. A license (e.g. ticket to an event) is revocable at any time and for any lawful reason. But if the licensee paid value for the license, the licensor may be required to pay damages for revoking it.
What happens if someone transfers their interest in a joint tenancy with right of survivorship during their life? (UWorld)
A lifetime transfer of a joint tenant’s interest severs that interest from the joint tenancy relationship, and it becomes a tenancy-in-common ownership interest.
What are a life tenant’s duties regarding property? (UWorld)
Life tenants have the duty to pay current charges, duty to prevent waste, and duty to make ordinary repairs.
What is the life tenant’s duty to pay current charges? (UWorld)
Life tenant must pay all current charges due during life tenancy (eg, property taxes, mortgage interest) up to financial benefit received from property
If a contract violates a law, may it still be able to be enforced? (UWorld)
Yes. When a contract violates a law that was designed to protect the party seeking to enforce the contract, the contract can be enforced to avoid frustrating the public policy behind the statute.
What is an exception to the Mrs. Murphy Law for Property? (UWorld)
Although owner-occupied dwellings with up to four units (Mrs. Murphy Exception) are generally excepted from the FHA, this exception does not apply to advertisements stating a preference for a protected class (White Male Preferred = Bad).
In Contracts, what is duress? (UWorld)
Duress occurs when a party’s assent to a contract is compelled by physical force or imminent threat of death or serious bodily harm. Duress also occurs when a party receives an improper threat and has no reasonable alternative but to succumb.
When is zoning cumulative? (UWorld)
Zoning is cumulative when it allows a higher use to exist in a lower use zone, as illustrated above.
What is the order of high to low cumulative zoning? (UWorld)
Single-family, multi-family, commercial, light industrial, and heavy-industrial.
How may a nonconforming use continue? (UWorld)
A nonconforming use may continue until (1) the owner enlarges, changes, or abandons that use or (2) if provided in the zoning law, an amortization period has passed or the use has not been registered.
Is notice required to effectively accept an offer by starting performance? (UWord)
No. Notice is not required to effectively accept an offer by starting performance unless the offer so requires. But if the offeree should know that the offeror has no convenient way of learning within a reasonable time that performance has begun, the offeree must notify the offeror. Otherwise, the offeror’s contractual duty will be discharged.
Under the UCC, what happens if the buyer fails to timely select the assortment of goods for delivery? (UWorld)
If the buyer fails to timely select the assortment of goods for delivery and the delay materially impacts the seller’s performance, then the seller can (1) proceed in any reasonable manner or (2) treat the failure as a breach.
What is a contract for deed? (Uworld)
A contract for deed (i.e. an installment land contract) allows a buyer to take immediate possession of the property while the seller retains title until the final installment payment is made. The seller could traditionally keep all installment payments and retake possession upon default. But states now assist buyers in default by requiring a foreclosure, offering the equitable right of redemption, or granting the buyer restitution.
When does inquiry notice exist? (UWorld)
Inquiry notice exists if a buyer knows, or should know, of circumstances that would prompt a reasonable person to investigate (eg, visible use of the property - like operating a farm).