contracts bob brooks (section 1) Questions and Correct Answers | Latest Update
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Course
Contracts bob brooks
Institution
Contracts Bob Brooks
A prospective buyer makes an offer on a property lower than the listed price. This offer is
accompanied by an earnest money deposit. Of the following, which MUST the broker do?
Accept the offer and the deposit and present both to the seller.
A salesperson has a purchase agreement signed by ...
Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
contracts bob brooks (section 1) Questions
and Correct Answers | Latest Update
A prospective buyer makes an offer on a property lower than the listed price. This offer is
accompanied by an earnest money deposit. Of the following, which MUST the broker do?
Accept the offer and the deposit and present both to the seller.
A salesperson has a purchase agreement signed by a minor. The following person MAY
terminate the listing without liability.
minor
Consideration in a contract is:
An exchange of promises
When consideration in a contract consists of a promise in exchange for an act; the contract is:
unilateral
Which of the following statements is CORRECT?
a. The object of a contract must be legal.
b. All contracts must be in writing. Incorrect.
c. Contracts signed by minors are never enforceable.
~ 1 ~ for inquiry mail me @ supergrades12@gmail.com
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
d. Contracts must be recorded to be enforceable.
The object of a contract must be legal.
The concept of duress is based on
fear
The amount and type of deposit required is determined by
Negotiation
If the seller in a purchase agreement should die prior to the closing; which of the following is
TRUE:
The death of the seller does no normally termina te a contract.
A property is listed. Before it is sold the seller dies, the listing is now
void
If a buyer in a real estate contract breaches the contract, the seller options are
a. Rescind the contract.
b. Sue for damages.
~ 1 ~ for inquiry mail me @ supergrades12@gmail.com
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