Acquiring Property Through Contract - Explained
Contracts Used in the Transfer of Property
Written by J. Mance Gordon
Updated at April 19th, 2024
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How is an ownership interest transferred between individuals?
Contracts - Contract law provides rules under which people agree to exchange value. Contracts, express and implied, are the dominant manner by which individuals exchange real and personal property. Contract law is a staple of a developed rule of law system. Enforceable contract rights provide confidence in undertaking economic activity with others. Increased confidence drives economic productivity.
- Note: Visit our chapter on CONTACTS - to learn more about contract law.
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