Providing more than 140 sample forms, sample clauses, and checklists that simplify and accelerate transactions, Friedman 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 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 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 on Contracts is your comprehensive guide to every aspect of real estate contracts and conveyances.