Contracts, Finance, and Transfer Practice Question
Question
A client asks whether a fact should be disclosed for the Pennsylvania Real Estate Salesperson Exam involving specific performance and state agreement and disclosure practice. Which statement is the best answer? (Item 156)
Answer choices
- A. The affiliated licensee may handle the matter independently without broker responsibility.
- B. Local custom controls even when a statute, regulation, contract, or disclosure rule applies.
- C. The requirement matters only when the buyer obtains institutional financing.
- D. Recognize a court order requiring contract performance in appropriate cases in a way that fits Pennsylvania exam practice.
Correct Answer
D. Recognize a court order requiring contract performance in appropriate cases in a way that fits Pennsylvania exam practice.
Explanation
The correct answer is D because specific performance requires candidates to recognize a court order requiring contract performance in appropriate cases. The Pennsylvania 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: hard
- Domain: Contracts, Finance, and Transfer
- Objective: specific performance