Guide to Contract Law

All licensees involved in the practice of real estate are necessarily involved in the preparation and negotiation of contracts. This advanced Oregon real estate contract law course builds upon the basic principles of contract law. In this advanced contracts course, the licensee will build upon their basic contract law knowledge to include concepts beyond the basics. The licensee will be introduced to the numerous problems which may arise in the formation, interpretation, and performance of a contract which may affect its validity. The licensee will also learn how the concepts of assignment and delegation may apply to a real estate related contract.

Conditions and contingencies are involved in most real estate transactions. In the discussion of conditions and contingencies the licensee will be introduced to how conditions impact most contracts. The licensee will also learn how to draft contingencies and their implications in the typical real estate transaction.

Finally, the licensee will be introduced to the concept of breach of contact and will learn the resulting consequences of a contract breach along with the many possible remedies available to the injured party. The licensee will also be introduced to the concept of tort liability as it applies to the breach of contracts and its impact on potential litigation in which a licensee may become involved.

Course Content

The Oregon real estate contract law course contains approximately 4 hours of reading material. The course is divided into four sections. Review quizzes are at the end of each of the course segments.

An optional final examination is required at the end of the Oregon contract law real estate course. The final examination consists of 20 questions. After completing the Oregon Real Estate Agency mandated seat time, an Oregon real estate continuing education certificate will be available for printing