Contracts and Contingencies

All licensees involved in the practice of real estate are necessarily involved in the preparation and negotiation of contracts. In this advanced contracts course, you will build upon basic contract law knowledge. You'll be introduced to the numerous problems that may arise in the formation, interpretation, and performance of a contract that may affect its validity. We'll also explore the concept of breach of contract and learn the consequences for a contract breach.

Conditions and contingencies are involved in most real estate transactions. In this course we'll introduce how conditions impact most contracts. You will also learn how to draft contingencies and their implications in a typical real estate transaction.

Course Topic Outline

The modules covered in this course are

1. Elements of a Contract
2. Contract Performance
3. Termination of Contract
4. Conditions and Contingencies
5. Drafting Contingencies

This online course contains five modules of text, with a quiz at the end of each chapter. Students must pass the end-of-module quiz with a score of 100% before accessing the next module in the course. There is a 25-question final exam at the end of the course that requires an 80% or higher passing score. 

All materials are included in the cost of the course. Students only need a computer or mobile device with an internet connection. Students are responsible for hardware and/or device costs and internet service charges.

The course includes a time-out function. If students are not engaged in the course for more than 15 minutes, the course will log students out. Students can log back into the course to start back where they last left off.

Learning Objectives

At the end of this course, students will be able to

• list and recognize the four required elements of a legal contract.
• identify conditions for terminating an offer.
• classify contracts as being either valid, void, or voidable.
• explain the basic process of reformation for contracts that can’t be interpreted.
• recognize different forms of contractual discharge and explain how they work.
• distinguish between various remedies for breach of contract and explain which might apply to different situations.
• explain how a contingency is used in a real estate contract.
• list contingencies that are often found in a purchase contract.
• describe the components that must be defined when drafting a contingency.
• identify poorly written contingencies.

Refund Policy

No refunds are available for this course. Cancellation requires no notification and students may discontinue the course at any time.

OnlineEd may honor post-sale rebate requests for differences in product pricing due to promotions or coupons only if the request is made within 3 business days of purchase. OnlineEd will not honor rebate requests for any products after 3 business days of purchase and will not price-match any competitor's products after a purchase is completed