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Real Estate Transaction Essay

777 words - 4 pages

Real Estate Transaction
The words “equity does not serve the indolent” will hang Brutus even if he claims no to know the law. In the normal transaction of real estates the law of contract requires that that the buyer should disclose all information he has about the land including the interests that he has in the estates before purchase to ensure fairness in the business transaction. Brutus had been aware of the gains that come about with the land and therefore his liability to disclose information cannot be doubted, this is an aspect of fraudulent misrepresentation.
Naive too cannot escape the hangman; the expectations of a lawyer aren’t what is depicted by him. In Hedley Byrne & ...view middle of the document...

The contract between Revamp and Shabby to prove the exact value of the building before providing the funds. Alongside this should be the terms of contract between Shabby and revamp to know if there are any terms that would keep our bank at a risk in future .Both Shabby and Revamp should provide their asset documents to establish the credit worthiness of the two firms.
I would recommend that Second Savings make provisions for immediate completion of Shabby’s loan to first Bank upon full payment to leave the transaction only between Revamp and Second Savings. The second provision recommended would be timely payment of the mortgage. This contract is meant to improve commerce and as such all parties is bound to complete their contractual duties in time. It would be the duty of Revamp to ensure payments are made in time. My last provision would be for Second Savings to take up the building as security a provision that is well accommodated in the law of contract
A loan agreement between revamp and Second savings, this is the key document of transaction between the two parties and thus cannot miss to be drafted .An agreement between Second Savings and Revamp on the mode of payment agreement that has finally been...

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