Contracts, Finance, and Transfer Practice Question
Question
A license applicant is reviewing a practice scenario for the Oregon Real Estate Broker Exam involving contract elements and Oregon Real Estate Agency. Which response best applies the rule? (Item 55)
Answer choices
- A. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
- B. The client’s preference eliminates the need to disclose known material facts.
- C. Identify offer, acceptance, consideration, capacity, consent, and lawful objective in a way that fits Oregon exam practice.
- D. The party who complains first automatically receives the remedy requested.
Correct Answer
C. Identify offer, acceptance, consideration, capacity, consent, and lawful objective in a way that fits Oregon exam practice.
Explanation
The correct answer is C because contract elements requires candidates to identify offer, acceptance, consideration, capacity, consent, and lawful objective. The Oregon 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