Contracts, Finance, and Transfer Practice Question
Question
A seller is preparing to list a home for the North Carolina Real Estate Broker Exam involving contract elements and provisional broker supervision. Which statement is the best answer? (Item 19)
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 offer, acceptance, consideration, capacity, consent, and lawful objective in a way that fits North Carolina exam practice.
- D. The client’s preference eliminates the need to disclose known material facts.
Correct Answer
C. Identify offer, acceptance, consideration, capacity, consent, and lawful objective in a way that fits North Carolina exam practice.
Explanation
The correct answer is C because contract elements requires candidates to identify offer, acceptance, consideration, capacity, consent, and lawful objective. The North Carolina 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