Contracts, Transfer, and Escrow Practice Question
Question
A buyer and seller disagree about a transaction term involving purchase agreement. Which statement is the most accurate exam answer? (Item 46)
Answer choices
- A. It allows a salesperson to act independently of the responsible broker.
- B. Recognize essential terms in a residential purchase contract.
- C. It shifts all responsibility to escrow and eliminates the broker’s duties.
- D. It makes oral promises enforceable in every real estate transaction.
Correct Answer
B. Recognize essential terms in a residential purchase contract.
Explanation
The correct answer is B because purchase agreement requires candidates to recognize essential terms in a residential purchase contract. The other options overstate the effect of custom, oral agreement, escrow, or independent salesperson action and do not reflect safe California exam practice.
Question details
- Difficulty: medium
- Domain: Contracts, Transfer, and Escrow
- Objective: purchase agreement