Contracts, Finance, and Transfer Practice Question
Question
A closing coordinator flags an issue before settlement for the New Jersey Real Estate Salesperson Exam involving contract elements and attorney review awareness. Which answer best reduces risk? (Item 127)
Answer choices
- A. The client’s preference eliminates the need to disclose known material facts.
- B. The party who complains first automatically receives the remedy requested.
- C. Identify offer, acceptance, consideration, capacity, consent, and lawful objective in a way that fits New Jersey exam practice.
- D. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
Correct Answer
C. Identify offer, acceptance, consideration, capacity, consent, and lawful objective in a way that fits New Jersey exam practice.
Explanation
The correct answer is C because contract elements requires candidates to identify offer, acceptance, consideration, capacity, consent, and lawful objective. 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: contract elements