Contracts, Finance, and Transfer Practice Question
Question
A buyer asks a licensee for an exam-focused explanation for the New Jersey Real Estate Salesperson Exam involving specific performance and New Jersey disclosure and consumer protection practice. Which response best applies the rule? (Item 102)
Answer choices
- A. Local custom controls even when a statute, regulation, contract, or disclosure rule applies.
- B. Recognize a court order requiring contract performance in appropriate cases in a way that fits New Jersey exam practice.
- C. The requirement matters only when the buyer obtains institutional financing.
- D. The affiliated licensee may handle the matter independently without broker responsibility.
Correct Answer
B. Recognize a court order requiring contract performance in appropriate cases in a way that fits New Jersey exam practice.
Explanation
The correct answer is B because specific performance requires candidates to recognize a court order requiring contract performance in appropriate cases. The New Jersey 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: specific performance