Law Of Contracts- Final Exam - Questions & Answers (Rated A+) Best 2024

Riparian Rights {Ans: A legal right of a landowner who owns land next to a natural watercourse to reasonable use of whatever water flows past the property.}Estate at Will (Tenancy at Will) {Ans: gives the tenant the right to possess property for an indefinite or uncertain time}Express Contract {Ans: A contract in which the terms of the agreement are fully and explicitly stated in words, oral or written.}Hostile Possession {Ans: The possession of the property is without the owner's permission, either expressed or implied.}Addendum For Release of Liability on Assumed Loan and/or Restoration of Seller's VA Entitlement {Ans: the form is only used if the buyer is assuming the seller's current loan.}Commingling {Ans: Illegally mixing deposits or monies, collected from a client, with one's personal or business account. Taking money out too soon or putting it into escrow too late (10 banking days).}