Contracts, Finance, and Transfer Practice Question
Question
A closing coordinator flags an issue before settlement for the Massachusetts Real Estate Salesperson Exam involving counteroffer and broker-salesperson supervision. Which statement is the best answer? (Item 24)
Answer choices
- A. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
- B. The client’s preference eliminates the need to disclose known material facts.
- C. The party who complains first automatically receives the remedy requested.
- D. Recognize that a counteroffer rejects the prior offer and proposes new terms in a way that fits Massachusetts exam practice.
Correct Answer
D. Recognize that a counteroffer rejects the prior offer and proposes new terms in a way that fits Massachusetts exam practice.
Explanation
The correct answer is D because counteroffer requires candidates to recognize that a counteroffer rejects the prior offer and proposes new terms. The Massachusetts 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: hard
- Domain: Contracts, Finance, and Transfer
- Objective: counteroffer