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The official 2007 edition of the UCC. The Uniform Commercial Code (UCC), first published in 1952, is one of a number of uniform acts that have been established as law with the goal of harmonizing the laws of sales and other commercial transactions across the United States through UCC adoption by all 50 states, the District of Columbia, and the Territories of the United States.
Contract law. Offer and acceptance are generally recognized as essential requirements for the formation of a contract (together with other requirements such as consideration and legal capacity ). Analysis of their operation is a traditional approach in contract law. This classical approach to contract formation has been modified by developments ...
According to Mackeurtan, Purchase and sale ( emptio venditio) is a mutual contract for the transfer of possession of a thing in exchange for a price. It has three essentials: consent ( consensus ad idem ); a thing sold ( merx ); and a price ( pretium ). [ 8 ] Remember that a sale contract is a special form of contract, and so all law discussed ...
A short sale is when a mortgage lender agrees to allow a homeowner to sell their home for less than what they owe on the mortgage. A short sale can help you get out of an underwater situation, but ...
It's no wonder -- the number of short sales on the market has exploded in recent months, as more and more homeowners turn to short sales as a means of Short Sales: What You Need to Know Skip to ...
A short sale can offer much-needed financial relief, but negatively affects your credit history and ability to buy another home in the near future. A short sale occurs when you sell your home for ...
Pre-emption right. A pre-emption right, right of pre-emption, or first option to buy is a contractual right to acquire certain property newly coming into existence before it can be offered to any other person or entity. [ 1] It comes from the Latin verb emo, emere, emi, emptum, to buy or purchase, plus the inseparable preposition pre, before.
The term "short sale" is enough to make many homebuyers bolt out the door in a panic. But when Jennifer Craft and her husband discovered that the house of their dreams was listed with the often ...