Posted: August 29th, 2022

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The Chapter 1 is attached as a pdf document. The book cover for the work cited is attached as a document as well.
After reading Chapter 1, please answer the following questions.
Many of these questions have two or more parts, so please answer the question completely or you will not get full credit for your response.
List and explain the essential elements of a valid contract.
Explain the difference in valid, void, voidable, and unenforceable contracts.
Distinguish and describe the difference between bilateral and unilateral, and executed and executory contracts.
Describe “reasonable time” and “time is of the essence” as they apply to Texas real estate contracts and identify which contract forms contain the phrase “time is of the essence.”
Distinguish between an amendment and an addendum and describe how and when they are used.
State the statute of limitations for written and oral contracts in Texas.
List reasons for termination of a contract, including breach of contract.

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