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- The agreement is solely between the buyer and seller, and no bank or lender is involved. Deed remains with the seller. While the buyer takes possession of the property, as with mortgages, the seller retains the deed and legal title to the property as security and collateral until the installment payments are fulfilled.
www.rweiler.com/blog/what-is-a-land-contract-in-ohio/
Oct 3, 2023 · In Ohio, for a contract to be legally enforceable, certain elements—like a valid offer, acceptance, and a meeting of the minds—must be present within the document or verbal agreement. These elements help ensure the enforceability of the contract and confirm the agreement is valid and binding under the law.
Jun 29, 2011 · (1) An agreement by the parties to be governed in their rights and duties under the contract, agreement, or undertaking, in whole or in part, by the law of this state; (2) An agreement by the parties to submit to the jurisdiction of the courts of this state.
Oct 26, 2022 · When a client hires a lawyer to draft a contract, the implicit requirement of the engagement is that the lawyer will draft an enforceable contract that will reliably protect the clients interests if
“A cause of action for breach of contract requires the claimant to establish the existence of a contract, the failure without legal excuse of the other party to perform when performance is due, and damages or loss resulting from the breach.”
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Mar 3, 2009 · asserted to reform a written contract, 3 Pomeroy Equity Jurisprudence, 5th Ed., page 388, par. 870, has this to say: ‘It is a rule that a contract will not be reformed for a unilateral mistake, nor does such mistake, of itself, render the transaction voidable.
Mar 12, 2021 · As the court explained, contract terms are definite and certain if they allow the court to determine the existence of a breach and the appropriate remedy. The court explained that indefinite and aspirational language does not constitute an enforceable promise under Ohio law.
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An implied-in-fact contract is a true contract, and differs from a regular contract in that assent is implicit rather than explicit, and so the damage measures applied to traditional contracts apply here.
