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Affidavit of title: A written statement that sellers make under oath certifying that they are in possession of the property, and that since the examination of the title on the date of the ...
New Jersey’s Affidavit of Merit Statute (NJ Rev Stat § 2A:53A-27 (2013)) was signed into law in 1995.The statute states that if a person sues for injury, death, or property damage because of a professional's mistake or carelessness, they must provide a special letter from an expert within 60 days after the other side responds to their lawsuit. [1]
Money is the most common form of consideration, but other consideration of value, such as other property in exchange, or a promise to perform (i.e. a promise to pay) is also satisfactory. Notarization by a notary public is normally not required for a real estate contract, but many recording offices require that a seller's or conveyor's ...
Consideration is the central concept in the common law of contracts and is required, in most cases, for a contract to be enforceable. Consideration is the price one pays for another's promise. It can take a number of forms: money, property, a promise, the doing of an act, or even refraining from doing an act.
Such disputes may be resolved by reference to the 'last document rule', i.e. whichever business sent the last document, or 'fired the last shot' (often the seller's delivery note) is held to have issued the final offer and the buyer's organisation is held to have accepted the offer by signing the delivery note or simply accepting and using the ...
The accord is the agreement to discharge the obligation and the satisfaction is the legal "consideration" which binds the parties to the agreement. A valid accord does not discharge the prior contract; instead it suspends the right to enforce it in accordance with the terms of the accord contract, in which satisfaction, or performance of the ...