Explain the essential elements that constitute a valid contract with reference to letter of intent, tenancy agreement, option to purchase and sale and purchase agreement.

Distinguish between express and implied terms in a contract.

Distinguish between warranties and conditions in a contract.

Explain the purpose of an exemption clause and its validity.

State the purpose of an indemnity clause.

Describe the main vitiating factors and explain their legal effects on a contract.

Describe the ways a contract may be discharged and the remedies available for breach of contract.

Explain the Learning Outcomes (LOs) above in relation to the various phases of real estate contracts.