400-012-5287· 平等产权 is an interest in real estate of sufficient worth for court protection of that interest, although this interest may be less than full ownership.
o When the offer is accepted, a contract is created and the buyer acquires an interest in the land known as equitable title
o The seller retains legal title until transfer by deed to the buyer
o Typical factors causing the lack of mutual consent are:
§ Fraud: is intentionaldeceit or lying. It is a misstatement of material facts to induce someone to rely on the facts and enter into a contract. A false statement is deemed to be fraudulent when
· The party making the statement knows it to be false; or
· The party making the statement does not know in fact whether the statement is true or false but proceeds without determining its truth or falsehood
§ Misrepresentation: is the intentional or unintentional misstatement of facts
· Misrepresentation can be the result of a misunderstanding of the facts by the person making the misrepresentation.
§ Mutual mistake: a mistake of material fact by both parties, may nullify a contract
§ Undue influence: is any improper or wrongful control or influence by one person over another. As a result, the will of one person is overpowered so that he or she is induced to act, or prevented from acting, of his or her own free will
· Undue influence occurs when one person takes advantage of another person's lack of knowledge, or between a legal advisor and a client, or between the parties.
§ Duress: is the threat of violence or placing a person in fear for his or her safety.
· The essential element of duress is physical fear or threat
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