Express
A contract whose terms have been explicitly declared either verbally or in writing is a(n) _______ contract.
Unilateral
When only one party to the contract makes a promise, the result is a _______ contract.
Voidable
A contract in which one party has the right to void the contract is a _______ contract.
Implied
A contract created by the actions of the parties is a(n) ______ contract.
Voidable
A contract with a minor will be _______.
Gross lead
A lease contract in which the tenant pays rent only is a _______.
Contingency
The protection for buyers in a contract that allows them to get their earnest money back if they cannot qualify for a loan is known as a _______.
Option
A unilateral contract in which Buyer Allen has the right to purchase a property from Seller Betty if Buyer Allen chooses to do so is a(n) _______.
Statute of frauds
A party attempting to enforce an oral executory contract for the purchase of real estate would be stopped by the _______.
Mutual agreement
_______ means that there was an offer and acceptance; there was no fraud, misrepresentation, or mistake; and the consent was genuinely and freely given.
Offeror
The party who makes an offer to another is known as the _______.
Communication of acceptance
An accepted offer becomes binding on the offeror upon _______.
Fraud
Actual knowledge to enter into a contract by intentionally deceiving a party is _______.
Consideration
Something of value given in exchange for something else of value is _______.
Earnest money
_______ is not consideration but may be required as part of liquidated damages in a purchase contract.
Addendum
Additional material attached to and made part of an offer is an _______.
Amendment
To modify a written contract, both parties must sign an _______.
Executory
The buyer has equitable title in an _______ executory contract.
Specific performance
The right of parties to a contract to sue each other to perform the contract terms is _______.
Liquidated damages
When the seller keeps only the earnest money or other things of value of a buyer who is in default, the contract remedy is _______.