Question

Which of the following contract elements is an additional requirement that must be satisfied in a contract for sale of real estate that isn’t necessarily a part of other contracts?

a. proper description of the property
b. competent parties
c. consideration
d. legal objective

Answer 1

Answer: a. proper description of the property

Explanation: in addition to written form, the proper description of the property to be sold is also required in a real estate contract. At least the address must be state, but preferably the proper legal description of the property must be on the contract. A real estate offer must contain the exact terms and conditions (written form) which must be accepted without changes, the offer must be clear in character, the property must be accurately described to identify the subject matter (property description), and there must be an exact price for the property.

Answer 2

proper description of the property ( A )

Step-by-step explanation:

The requirements/basic elements of any kind of contract involves the presence of competent parties, considerations, legal objective, acceptance and offer.

however in the contract for the sale of real estate the proper description of the property is required and also a written form is required as additional basic element in the contract to be signed. the proper description of the property is required for transparency purpose and also for the buyer to have a proper insight of the property he/she is purchasing.