Breach of Contract refers to the violation of the terms agreed upon in a legal contract, enabling the affected party to seek legal remedies such as rescission of the contract, damages, or specific performance.
Constructive eviction is a legal doctrine in real estate that allows tenants to terminate their lease and vacate the property when a landlord's actions or failure to act substantially interfere with the tenant's use and enjoyment of the premises.
Damages refer to the monetary compensation recoverable by a person who has been injured due to the act or default of another. This can include physical harm, property damage, or violation of rights.
Duress in real estate refers to a situation where an individual is compelled to enter into a contract or agreement due to a threat or coercion, making the contract voidable.
A policy of restraint in taking legal action to remedy a default or breach of contract, generally in the hope that the default will be cured, given additional time.
Fraud in real estate involves the intentional use of deception for financial gain, leading to losses for another party. Understanding how to identify and address fraud is crucial in protecting one's investment.
Liquidated damages are a predetermined sum agreed upon in a contract which one party will pay to the other in the event of a breach of contract. This provision aims to cover the non-breaching party's estimated losses without requiring a legal battle.
Specific performance is a legal remedy in real estate contracts where the court orders the breaching party to perform their contractual obligations, typically involving the transfer of property.
A tort is a wrongful act or an infringement of a right (other than under contract) leading to civil legal liability. It is distinct from criminal acts and contract breaches, but it nonetheless renders the perpetrator liable to the victim for damages.
