Contracts, Finance, and Transfer Practice Question
Question
A broker is correcting a new licensee’s misunderstanding for the Ohio Real Estate Salesperson Exam involving specific performance and Ohio Division of Real Estate. Which statement is the best answer? (Item 66)
Answer choices
- A. The issue can be ignored if the parties want to close quickly.
- B. Recognize a court order requiring contract performance in appropriate cases in a way that fits Ohio exam practice.
- C. The rule applies only to commercial transactions and never to residential transactions.
- D. Client funds may be mixed with business funds if the broker reconciles the account later.
Correct Answer
B. Recognize a court order requiring contract performance in appropriate cases in a way that fits Ohio 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 Ohio 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