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Friedman and Smith on Contracts and Conveyances of Real Property (Eighth Edition)

Author(s): James C Smith, Milton R Friedman
Practice Area: Real estate, Real estate contracts, Real estate transactions, Real property
Published: Oct 2017
Supplement Date: Jul 2021 i Other versions can be found in the Related Items tab.
ISBN: 9781402429842
PLI Item #: 206208

Providing more than 140 sample forms, sample clauses, and checklists that simplify and accelerate transactions, Friedman and Smith on Contracts helps you to carefully consider all the issues and options before you finalize a contract, handle unexpected problems and contingencies before they become deal-breakers, factor in a relevant case law when structuring sound agreements, and avoid drafting ambiguous or incomplete contracts that can lead to delays and aborted deals.

Explaining common law principles, and thousands of statutes and court decisions, Friedman and Smith on Contracts counsels you on what course of action to take and what to avoid at every stage of real estate conveyancing, helping you to answer such essential questions as:

  • What essential terms and covenants must be in contracts of sale and deeds
  • When contracts of sale can become fatally defective
  • How to describe property with “reasonable certainty”
  • When encroachments make a title unmarketable
  • What covenants should be contained in mortgages
  • What additional property description should be included in deeds
  • When the merger of a deed increases the liability of both parties
  • What closing adjustments should be covered in contracts
  • What buyers and sellers can do to avoid delays in closings

Including case examples that alert you to what can go wrong when contract drafting is faulty, Friedman and Smith on Contracts shows you why:

  • Boilerplate remedies provisions in complex deals can create legal traps
  • Omitting a financing condition can increase a buyer’s risk in all-cash contracts
  • Multiple contracts employed by parties can lead to offer and acceptance problems
  • Failure to provide time periods for the issuance and delivery of building permits can cause disputes
  • Negligent misrepresentation can result when a seller signs a contract of sale without reading its terms
  • Some attorney review clauses can undermine negotiations and even terminate the contract
  • Minor language variations in informal letters can lead to unenforceability

Packed with sample forms, Friedman and Smith on Contracts is your comprehensive guide to every aspect of real estate contracts and conveyances.

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James Charles Smith is the John Byrd Martin Professor of Law at the University of Georgia, where he has taught since 1984. Professor Smith received his J.D. from the University of Texas School of Law in 1977. He served as Law Clerk for Judge Walter Ely, U.S. Court of Appeals for the Ninth Circuit, in Los Angeles, then practiced law for four years with the law firm of Baker Botts, in Houston, Texas, specializing in commercial real estate. In 1982, he left private practice to go into teaching. From 1982 to 1984 he taught at the Ohio State University College of Law. He is author of four other books: Property: Cases and Materials (2004), Real Estate Transactions (2nd ed. 2002), Federal Taxation of Real Estate (2001), and Neighboring Property Owners (1988). He has written numerous articles dealing with property, taxation, and commercial law.

Milton R. Friedman was a well-respected New York real estate lawyer, scholar and author who passed away in late 1997 after completing work on the Sixth Edition of Friedman on Contracts and Conveyances of Real Property. He was 93 years old and continued his work on this treatise until his last day.

Mr. Friedman had been a partner in the New York City law firm of Parker, Duryee, Zunino, Malone and Carter, and was a member of the Connecticut and New York Bars for over fifty years. After graduation from Yale Law School, he served as law secretary to Judges Learned Hand and Thomas W. Swan of the United States Court of Appeals for the Second Circuit.

Mr. Friedman lectured in many educational and professional forums, including the American Law Institute, New York University Law School, Practising Law Institute, Association of the Bar of the City of New York, New York State Bar Association, New York Chamber of Commerce and Industry, New York State Trial Lawyers Association, and other state and local bar associations.

He served as Chairman of the Committee on Real Property Law of the Association of the Bar of the City of New York, was a member of its Committee on State Legislation, Special Committee on Rent Control, and sat on the Advisory Committee—American Law Institute on Restatement (Second) of Property (Landlord and Tenant).