Contracts, Finance, and Transfer Practice Question
Question
A property manager asks how a rule affects a rental property for the Missouri Real Estate Salesperson Exam involving specific performance and agency and escrow compliance. What should the licensee understand? (Item 48)
Answer choices
- A. The requirement matters only when the buyer obtains institutional financing.
- B. The affiliated licensee may handle the matter independently without broker responsibility.
- C. Local custom controls even when a statute, regulation, contract, or disclosure rule applies.
- D. Recognize a court order requiring contract performance in appropriate cases in a way that fits Missouri exam practice.
Correct Answer
D. Recognize a court order requiring contract performance in appropriate cases in a way that fits Missouri exam practice.
Explanation
The correct answer is D because specific performance requires candidates to recognize a court order requiring contract performance in appropriate cases. The Missouri 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: specific performance