Contract Law Quiz With Answers

State:
Multi-State
Control #:
US-00102BG
Format:
Word; 
PDF; 
Rich Text
Instant download

Description

A detailed analysis of the laws affecting construction contracts including:


" Offer and acceptance;

" Written agreements: integration and merger;

" Mutuality and consideration;

" Expressed and implied obligations;

" Waiver and Disclaimer of Implied Warranty of Habitability;

" Breach and Enforcement: finding materiality and damages;

" Remedies and Procedure in Actions Involving Building and Construction Contracts;


Also includes sample forms from the USLF Website as follows:


" Sample Contract Clause Limiting Remedies;

" Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments;

" Sample count in suit for rescission;

" Petition for Rescission of Contract Failure of Contractor to Obtain Building Permit;

" Complaint for Damages, Specific Performance of Contract, and
Appointment of Special Master to Oversee Construction against Contractor and Agent's Breach of Contract to Construct House;

" Sample Construction Contract Change Order; Sample contract clause regarding arbitration;

" Labor and Material Payment Bond;

" Contract For Construction of a Commercial Building;

" Mechanics' Liens;

" Construction defects;

" Licensing Issues in Mississippi;

" E-discovery; and

" Electronic Message Archiving;

Free preview
  • Preview Contracting and Construction Law Handbook
  • Preview Contracting and Construction Law Handbook
  • Preview Contracting and Construction Law Handbook
  • Preview Contracting and Construction Law Handbook
  • Preview Contracting and Construction Law Handbook
  • Preview Contracting and Construction Law Handbook
  • Preview Contracting and Construction Law Handbook
  • Preview Contracting and Construction Law Handbook
  • Preview Contracting and Construction Law Handbook
  • Preview Contracting and Construction Law Handbook
  • Preview Contracting and Construction Law Handbook

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FAQ

What is Satisfaction of Mortgage? A Satisfaction of Mortgage, also known as a Mortgage Lien Release, is a legal document provided by the mortgagee (financial institution) advising that the mortgage has been paid in full, all terms of the loan have been satisfied and there will no longer be a lien on the property.

A satisfaction of mortgage is a document that proves the borrower has paid off the mortgage in full, freeing the loan's lien on the property and giving the title to the borrower.

If the satisfaction of mortgage isn't recorded, the property owner may have trouble when they try to refinance or sell the property. They'll have to chase down the discharge documents and get them recorded in order to clear the title. It can even cause a delay to the closing.

Within 60 days of the date of receipt of the full payment of the mortgage, lien, or judgment, the person required to acknowledge satisfaction of the mortgage, lien, or judgment shall send or cause to be sent the recorded satisfaction to the person who has made the full payment.

A satisfaction of mortgage is a signed document confirming that the borrower has paid off the mortgage in full and that the mortgage is no longer a lien on the property.

State property records will show whether your lien is released. You can find information on property records by contacting your local Secretary of State or county recorder of deeds. After you pay off your mortgage, your lender should also return the original note to you.

How do you get a Satisfaction of Mortgage? A Satisfaction of Mortgage is issued by the lender after they have received the final mortgage payment from the borrower. It's signed by the mortgagee (in the presence of a witness in some states and counties) and then notarized by a registered notary public.

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Contract Law Quiz With Answers