This assignment has to be based on the State of New York and also the book practical real state law by Daniel F
What are the requirements for a valid real estate contract?
What is the statute of frauds, and what effect does it have on the validity of contracts?
Explain the three remedies available for the breach of a real estate contract.
Under what circumstances would a liquidated damage provision be unenforceable?
When is a real estate broker entitled to a commission?
If a seller defaults on a contract, what is the most desirable remedy for the purchaser?
Research your state’s statute of frauds law, and prepare a brief memorandum summarizing what contracts are required to be in writing in your state.
Research your state’s law regarding powers of attorney and their use in the transfer of ownership to real property. Prepare a brief memorandum outlining the requirements for a power of attorney authorizing a person to sign a deed and discussing whether your state law requires the power of attorney to be recorded with the deed. Obtain from your instructor or from an attorney a power of attorney form used in your state, and compare it to the one shown as Exhibit 6-2. How is it similar, and how is it different?
Obtain a copy of the real estate listing agreement used in your state. Compare it with the form shown as Exhibit 6-3. Write a brief summary listing the similarities and differences.