There Are a Number of Ways That a Developer Can

question 12

Multiple Choice

There are a number of ways that a developer can finance the establishment of site control, each with its own advantages and disadvantages. Which of the following methodologies calls for only the initial land rent to be paid out before development actually gets under way?

• A) Joint venture
• B) Option
• C) Contract for deed
• D) Ground lease

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Definitions:

Different Performance

Fulfillment of a contractual obligation in a manner that varies from the originally agreed-upon terms yet still satisfies the contract's essential requirements.

Restitution

The return of any property given up under a contract.

Rescission

Rescission is the legal act of canceling, terminating, or voiding a contract, thereby returning all parties involved to their pre-contractual positions.

Contractual Conditions

Essential terms in a contract that must be met for the contract to be fulfilled and are foundational to the agreement's integrity.