Florida Contracts, 2nd Edition provides an in-depth examination of the principles, classifications, and practical application of contracts used in Florida real estate transactions. This course is designed to equip real estate licensees with the knowledge and confidence necessary to properly prepare, explain, negotiate, and manage contracts while remaining compliant with Florida law and ethical standards.
Students begin by learning the foundational elements required for a valid contract, including contractual capacity, mutual assent, lawful purpose, and consideration. The course then explores the various classifications of contracts—such as bilateral and unilateral, express and implied, executory and executed, and written versus oral—and explains how each functions in real estate practice. Special emphasis is placed on the Statute of Frauds, Statute of Limitations, and the legal consequences of void, voidable, and unenforceable contracts.
The course also addresses contract negotiation, modification, termination, and remedies for breach, including specific performance, liquidated damages, rescission, and compensatory damages. Students will gain a practical understanding of assignment and novation, option contracts, installment sale contracts, and the legal authority required to bind parties through powers of attorney.
A substantial portion of the course is dedicated to essential Florida real estate contracts, including listing agreements, buyer broker agreements, residential sales contracts, and approved contract forms. Detailed comparisons highlight critical differences between commonly used Florida contracts—such as the AS IS Residential Contract and the Standard Residential Contract—and explain how these differences affect risk, inspections, and repair obligations.
The course concludes with a comprehensive review of mandatory disclosures, including latent defect disclosure, Johnson v. Davis, flood and radon disclosures, condominium and cooperative disclosures, military contract protections, telephone solicitation laws. Throughout the course, real-world examples, knowledge checks, and scenario-based questions reinforce learning and emphasize compliance, professionalism, and consumer protection.
This course is ideal for Florida real estate sales associates and brokers who want a thorough, practice-oriented understanding of contracts and their critical role in successful and legally sound real estate transactions.
- Define the term contract
- List and describe the essentials of a contract
- Distinguish among formal, parol, bilateral, unilateral, implied, expressed, executory and executed contracts
- Describe the various ways in which an offer is terminated
- Describe the various methods of terminating a contract
- Explain the remedies for breach of a contract
- Describe the effect of the Statute of Frauds and the Statute of Limitations
- Describe the elements of an option
- Differentiate among the various types of listings
- Compare and contrast the “As-Is” Contract to the Residential Contract for Sale and Purchase
- Recognize required elements of Option Contracts
- Explain and describe the various disclosures required in a real estate contract
- Author-Instructor: Don Widmayer