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The document is an Assignment of Contract for Deed, where the Seller(s) assign their rights and interests in a specific Contract for Deed to an Assignee. It includes sections for recording details, acknowledgment by a notary public, and outlines that the assignment is without recourse, making the Assignee responsible for all obligations.

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When to use and or in contract?

It has a definite, agreed-upon meaning: when used properly, the construct means A or B or both. In most areas of law, there simply is no compelling reason to avoid using and/or. The term is clear and concise. It derives criticism mainly from the inability of people to use it correctly.

What is the legal difference between and and or?

The word and is conjunctive, meaning it combines things. Conversely, the word or is disjunctive, meaning it separates things. Because the phrase and/or can reasonably be construed as conjunctive and disjunctive at the same time, it is inherently ambiguous.

What is an assignment contract?

And/or, however, is not ambiguous at all. It has a definite, agreed-upon meaning: when used properly, the construct signi- fies A or B or both. In most areas of law, there is simply no compelling reason to avoid using and/or. The term is clear and concise.

What do you mean by contract and?

A contract is an agreement between two parties that creates an obligation to perform (or not perform) a particular duty. A legally enforceable contract requires the following elements, all of which are discussed in more detail below.

What does and or mean in a contract?

Ultimately what happens is you are in breach of contract if you do not follow through with the purchase. You will lose anything that you put down on the property as earnest money. It may be the case that you put $2000 in earnest money down to lock in the deal with the seller.

What does or otherwise mean in a contract?

Its saying under this agreement or any other agreement. For the general run of legal stipulations, the or otherwise is required. This is legal language, not normal literary language.

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