Contracts, Finance, and Transfer Practice Question
Question
A closing coordinator flags an issue before settlement for the Georgia Real Estate Salesperson Exam involving statute of frauds and Georgia Real Estate Commission. Which response best applies the rule? (Item 110)
Answer choices
- A. The party who complains first automatically receives the remedy requested.
- B. Recognize that many real estate agreements must be written to be enforceable in a way that fits Georgia exam practice.
- C. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
- D. The client’s preference eliminates the need to disclose known material facts.
Correct Answer
B. Recognize that many real estate agreements must be written to be enforceable in a way that fits Georgia exam practice.
Explanation
The correct answer is B because statute of frauds requires candidates to recognize that many real estate agreements must be written to be enforceable. The Georgia reference keeps the scenario tied to state licensing practice, while the other options rely on unsafe assumptions about oral custom, escrow, client preference, independent licensee authority, or ignoring written duties.
Question details
- Difficulty: medium
- Domain: Contracts, Finance, and Transfer
- Objective: statute of frauds