Law of Contracts - No. 1200

The first unit of the course will introduce you to contract law and how a contract is created. The essentials of a valid contract are also covered in detail. Other topics covered include offer and acceptance, fraud, mistake, lawful objective, consideration, performance, and breach of contract.

The second unit focuses on real estate contracts, especially Texas promulgated forms. Other contracts covered include the option contract, installment contract, and a lease with the option to buy. You will also learn about the right of first refusal and tax-deferred exchanges.

Table of Contents

1.  Unit 1

• Key Terms
• How a Contract Is Created
• Essentials of a Valid Contract
• Competent Parties
• Mutual Agreement
• Lawful Objective
• Consideration
• Contract In Writing
• Performance and Discharge of Contracts
• Breach of Contract
• Statute of Limitations
• Implied Obligations

2.  Unit 2

• Key Terms
• Purpose of Sales contracts
• Earnest Money Contracts
• Option Contracts
• Installment contracts
• Lease With Option to Buy
• Right of First Refusal
• Exchange Agreements
• Typical Trade Contract

The course contains practice quizzes, exercises and flashcards for each of the units, and is completed with a multiple choice final exam.