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...White paper basic contract law and real estate purchase agreements may reviewed copyright ohio realtors i introduction general principles apply to all the first part of this article will discuss various contractual elements contained in issues that arise from them second answer questions commonly asked with respect transactions a is defined as promise or set promises for breach which gives remedy performance some way recognizes duty contracts consist three offer acceptance consideration must be communicated either buyer seller next terminated accepted an by revocation counteroffer operation if not can last valid contain bargained change legal position between these exist there however have certain defenses would allow party avoid addition conditions satisfied excused waived before parties absolute perform finally once been deemed performed discharged order liability could liable obtain monetary damages equitable non relief discusses considerations they relate specifically provides illu...