De Novo Review Blog

Illusory obligations in a contract

Posted at April 11, 2017 , Categories: Contracts , Tags: contract, enforceability, illusory contracts, illusory obligations, mutuality of obligation, mutuality of remedies, remedies By De Novo Review

Can a party to a contract enforce a termination clause that allows both parties to terminate with or without cause but requires that the other party pay the complete amount of the contract upon exercising its right to terminate? Probably no. “It is basic hornbook law that a contract which is not mutually enforceable is […]

Title Agent Liability

Posted at February 27, 2017 , Categories: Real Estate , Tags: closing, closing documents, contract, disclose, disclosure, duty, economic loss rule, negligence, real estate, title agent, title company By De Novo Review

By: Marty If a title agent acts as a closing agent and misidentifies the buyer on closing documents, can the title agent be liable to the buyer? Yes. “It is well-established that a title insurance company acting as a closing agent has the duty to supervise a closing in a ‘reasonably prudent manner.’” Askew v. […]