Onine education for athletes
Onine education for athletes

Arizona Contract Law

contracts are the instruments used to describe and record the agreements surrounding the conveyance of property. Some type of contract is nearly always involved, whether a salesperson is promising to sell a property within a specified period of time, a prospective buyer is placing an offer on a house, or a seller is considering an offer on property. Before entering into a legally binding agreement, real estate professionals must fully understand the contracts that govern their industry. Failure to understand contracts opens a licensee to various kinds of liability, litigation, and can seriously damage ones professional reputation. Therefore, it is vital that real estate professionals clearly understand contracts and contractual language so that they can protect themselves and their clients against errors, oversights, and misunderstandings.It is imperative to be competent and knowledgeable in using the forms and contracts provided by the Arizona Association of REALTORS®. Those forms have been created to assist the licensee in protecting the interests of their clients, and to avoid misunderstandings that can lead to Mediation, Arbitration, or Litigation. The forms provided by AAR are todays Standard of Practice, and should problems arise and the agent has not utilized the current Standard of Practice, the agent could have liability. This class will review the AAR Contract and Addendums, as well as other forms crucial to the residential transaction.We will also review the basics of general contracts as well as the different kinds of real estate contracts. The course begins by providing the student with an overview of the various types of contracts: bilateral, unilateral, implied, express, executed, executory, valid, void, voidable, and unenforceable. Once the student is introduced to the different types of contracts, he or she learns what makes a contract legally enforceable, this being the six components that make a real estate contract in Arizona valid: in writing, competent parties, mutual assent, consideration, lawful objective, and legal description. This course includes the following lessons:Types of Contracts Features of a Legally Valid Contract The AAR Residential Resale Real Estate Purchase Contract AAR Addendums, Counter Offers, and Forms to Assist in the Transaction

price: 25.00

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