tx-law-17

2. Contracts in General
 Basic Elements of All
Contracts
› Legally Competent Parties
› Mutual Consent between the
Parties
› Genuine Assent
› Lawful Objective
› Consideration
 Discharge of Contracts
› Performance
› Release
› Mutual Rescission
› Assignment
› Novation
› Breach
 Certain Contracts Must Be In
Writing
› Texas Statute of Frauds
› Texas Property Code
Regarding Conveyances

3. Interpretation of Contracts
 Parol Evidence Rule
 Merger Clause
 Determining Conflicts in a Contract
› Contract Construed Against the Maker
 Statute of Limitations

4. Commission Agreements
 Types of Commission Agreements
 Definite Termination Dates Required
 Compensation
› Who Pays the Compensation?
› When is a Commission Earned and When is it Due?
› Collecting a Commission

5. Listing Agreements, Part I
 Listing Regulations
 Types of Listing Agreements
› Exclusive Right to Sell Listing
› Exclusive Agency Listing
› Open Listing
› Net Listing

6. Listing Agreements, Part II
 Sections of a Listing Agreement
› Parties
› Property
› Listing Price
› Term
› Broker’s Fee
› Listing Services
› Access to the Property
› Cooperation with Other
Brokers
› Intermediary
› Confidential Information
› Broker’s Authority
› Seller’s Representations
› Seller’s Additional Promises
› Limitation of Liability
› Special Provisions
› Default
› Mediation
› Attorney’s Fees
› Addenda and Other
Documents
› Agreement of Parties
› Additional Notices
› Signatures

7. Buyer Representation Agreements
 Residential Buyer/Tenant Representation Agreement
› Parties
› Appointment
› Definitions
› Term
› Broker’s Obligations
› Client’s Obligations
› Representations
› Intermediary
› Competing Clients
› Confidential Information
› Broker’s Fees
› Mediation
› Default
› Attorney’s Fees
› Limitation of Liability
› Addenda
› Special Provisions
› Additional Notices
› Signatures