Under Connecticut contract law, all of the following are recognized remedies available to a non-breaching party in a real estate transaction EXCEPT:
Correct Answer
D) Automatic forfeiture of the breaching party's real estate license upon a court finding of breach
Automatic forfeiture of a real estate license is NOT a remedy available to a non-breaching party in a Connecticut real estate contract dispute. License discipline is an administrative action taken by CREC under CGS Chapter 392 based on violations of license law — it is not a remedy that a private party can obtain through civil litigation. A court ruling that a party breached a contract does not automatically result in license revocation or suspension.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An assignment of contract transfers one party's rights and obligations under a contract to a third party called the assignee. The original party, known as the assignor, transfers their contractual position to someone who was not originally part of the agreement.
A bilateral contract is an agreement in which both parties exchange promises and are both obligated to perform, while a unilateral contract is one in which only one party makes a promise and the other party is not obligated to act.
A breach of contract occurs when one party fails to perform their obligations under the contract without a legal excuse. The non-breaching party is entitled to legal remedies including damages, specific performance, or contract rescission.
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