Contracts, Finance, and Transfer Practice Question
Question
A closing coordinator flags an issue before settlement for the New Jersey Real Estate Salesperson Exam involving breach and New Jersey disclosure and consumer protection practice. What should the licensee understand? (Item 47)
Answer choices
- A. The party who complains first automatically receives the remedy requested.
- B. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
- C. Identify nonperformance and available contractual remedies in a way that fits New Jersey exam practice.
- D. The client’s preference eliminates the need to disclose known material facts.
Correct Answer
C. Identify nonperformance and available contractual remedies in a way that fits New Jersey exam practice.
Explanation
The correct answer is C because breach requires candidates to identify nonperformance and available contractual remedies. 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: breach