Posts tagged real estate contract
Instrument Rental Plans and Title Insurance Policy Options

To real estate buyers, title insurance options can be confusing. There is standard and extended coverage, which is limited by exclusions and exceptions. Plus, a buyer can purchase endorsements to provide coverage for specific concerns.

Read More
Swapping Violin Bridges and Contract Parties

Despite the bridge’s conspicuous position on the top of the violin and its importance to the sound produced, non-violinists aren’t likely to give it a second glance. The same is true of successors and assigns clauses in contracts. The language isn’t hidden; yet, contracting parties may not even read them before signing the contract.

Read More
The Art of Legal Drafting

The study of law in the U.S. is treated more as a science than as an art. Law school requires that students learn hundreds of legal concepts, much as a musician would learn mechanically how to play an instrument. A good amount of the study of law involves memorization of rules – court rules, equitable maxims, statutes, and regulations.

Read More
Fermatas, Grand Pauses, and Alternatives to Holdbacks in Real Estate Transactions

Fermatas and grand pauses are alternatives a composer can use slow down the pace of the music when the changes to tempowon't create the desired effect. In a real estate transaction, sometimes, the parties’ circumstances don't allow for a holdback, and the parties are forced to look for alternatives.

Read More
How Holdbacks Affect Music and Real Estate Transactions

There are four music terms describing a holding back of tempo, each having its own nuanced meaning. Similarly, there are different holdback strategies in real estate transactions, which parties should tailor to the needs of their transaction.

Read More
Practicing Scales and Signing and Delivering Contracts

An advanced musician will read the music by scale and arpeggio patterns that the musician has been practicing for years. People reviewing real estate contracts may act like advanced musicians. They may become so accustomed to certain contract clauses that they may breeze through them, thinking they are "standard boilerplate.” In this article, we will discuss “boilerplate” clauses that describe how a contract is signed and delivered.

Read More
The Merger Doctrine and Surviving the Closing

Sight-reading is a crucial skill for a professional musician. Many auditions include a sight-reading “test,” to see whether the musician can perform at a high level with little rehearsal time. When reviewing real estate contracts, many people act like an inexperienced musician sight-reading music.

Read More
Choice-of-laws Clauses

Once a music classmate asked me for help on his music theory homework. Immediately, I saw his challenge. My classmate he had glossed over the clef signs, thinking they were “boilerplate.” When reviewing real estate contracts, many people gloss over miscellaneous “boilerplate” sections. "Boilerplate” sections are important, and contracting party can get burned by not carefully reviewing and negotiating them.

Read More
An Orchestra, the DC Beltway, and Acts of God: Why Your Contracts Need a Force Majeure Clause

I had expected the usual “please turn off your cell phones and do not take pictures or make recordings.”  Instead, we were given an explanation for the unpopulated stage -- half of the orchestra had not yet arrived at the concert hall because they were in a bus stuck on the DC Beltway.

Read More
Making “Best Efforts” to Play in Tune or to Comply with Real Estate Contracts

It is difficult to play a violin in tune.  For one thing, unlike with a guitar, there are no frets or markings on a violin fingerboard to tell the violinist where to put his/her fingers. Even a millimeter difference in finger placement can be the difference between an in-tune and out-of-tune note.

Read More