The termination of an agreement or contract, regardless of the initiating circumstances, is known as dissolution. This could occur due to various reasons such as the completion of contract terms (performance), a court order, or mutual agreement among the parties involved.
An offeror is an individual or entity that presents or extends an offer to another party in a real estate transaction. This term is crucial in contract law as it denotes the party who initiates the contractual agreement.
A valid contract in real estate is a legally binding agreement between two or more parties, often associated with property transactions. For a contract to be valid, it must include an offer, acceptance, intention to create legal relations, and consideration.
