If broken what kind of recourse dose the morgage holder have.
The contract was with a realestate company.
2006-09-09 12:31:28 · 5 answers · asked by bray5255 1 in Politics & Government ➔ Law & Ethics
Theyre completely binding.
2006-09-09 12:34:16 · answer #1 · answered by amosunknown 7 · 0⤊ 0⤋
Land Contracts are binding
2006-09-12 23:21:14 · answer #2 · answered by Roberto 2 · 0⤊ 0⤋
Land Contracts are binding, unless they are legally defective. Just like any other contact.
A one party to a contract breaches the contract, the other party can sue them for damages or possible to enforce the contract terms.
2006-09-09 12:34:06 · answer #3 · answered by coragryph 7 · 0⤊ 0⤋
For good questions about land contracts, check out what is happening with te land contracts, or treaties, in Canada right now. You will see how binding they can be.
If you are in China, a contract is dirt.
2006-09-09 12:40:37 · answer #4 · answered by James S 4 · 0⤊ 0⤋
a contract is a contract.
the law always has recourse instilled in statute.
depending on what you did, foreclosure or specific action can be forced
2006-09-09 12:38:34 · answer #5 · answered by elmo o 4 · 0⤊ 0⤋