This form is a contract for a lease and a manadatory purchase of real estate. Seller demises and leases to purchaser and purchaser takes and rents from seller certain real property described in the form. Purchaser agrees not to use or permit the use of the property for an illegal purpose. An auction, fire or going out of business or bankruptcy sale, may not be conducted in the property without prior written consent of the seller.
New Jersey Contract for the Lease and Mandatory Purchase of Real Estate - Specific performance clause
State:
Multi-State
Control #:
US-00120
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Contract For The Lease And Mandatory Purchase Of Real Estate - Specific Performance Clause?
If you need to download, print, or obtain official document templates, utilize US Legal Forms, the largest selection of legal forms available online.
Take advantage of the website's user-friendly search feature to find the documents you require.
Various templates for business and personal purposes are organized by categories and states, or keywords.
Step 4. Once you have found the form you need, click the Get now button. Choose your preferred payment plan and enter your details to create an account.
Step 5. Complete the transaction. You can use your credit card or PayPal account to finalize the purchase.
- Utilize US Legal Forms to acquire the New Jersey Contract for the Lease and Mandatory Purchase of Real Estate - Specific performance clause with just a few clicks.
- If you are already a US Legal Forms customer, Log In to your account and click the Download button to obtain the New Jersey Contract for the Lease and Mandatory Purchase of Real Estate - Specific performance clause.
- You can also access forms you previously downloaded from the My documents tab in your account.
- If you are using US Legal Forms for the first time, follow these steps.
- Step 1. Ensure you have selected the form for the appropriate area/state.
- Step 2. Use the Review option to examine the form's content. Don't forget to read the description.
- Step 3. If you are not satisfied with the form, use the Search section at the top of the screen to find other variations of the legal form template.
Form popularity
FAQ
Which of the following is needed in order to satisfy the UCC's requirement for a written document? The contract or memorandum needs only to state the quantity to be sold.
In summary, specific performance is an equitable remedy that is available when a party to a sales contract for real property is harmed by the other party's nonperformance.
Key Takeaways. The statute of frauds is a common law concept that requires written contracts for certain agreements to be binding. The statute applies to land sales and most purchases of goods over $500. There are significant exceptions, such as oral contracts where work has already started.
Specific performance is an equitable remedy in the law of contract, whereby a court issues an order requiring a party to perform a specific act, such as to complete performance of the contract.
According to Section 10 of Specific Relief Act 1963 in the following conditions specific performance of the contract is enforceable: When there exist no standard for ascertaining actual damage: It is the situation in which the plaintiff is unable to determine the amount of loss suffered by him.
A contractual remedy in which the court orders a party to actually perform its promise as closely as possible, because monetary damages are somehow inadequate to fix the harm.
In summary, specific performance is an equitable remedy that is available when a party to a sales contract for real property is harmed by the other party's nonperformance.
According to U.C.C. Section 2-201 , any contract for the sale of goods for the price of $500 or more must be in writing. There are, however, certain exceptions to this rule in which an oral contract for the sale of goods of $500 or more will be enforced.
Specific Performance: Overview When a contract is for the sale of a unique property, for instance, mere money damages may not remedy the purchaser's situation. Example: Rina offers to buy Beth's house and Beth accepts, but later decides to keep the property. Real estate is considered to be unique.