Contracts, Finance, and Transfer Practice Question
Question
A salesperson notices a possible compliance problem for the Pennsylvania Real Estate Salesperson Exam involving contract elements and consumer notice concepts. Which statement is most accurate for exam purposes? (Item 73)
Answer choices
- A. Identify offer, acceptance, consideration, capacity, consent, and lawful objective in a way that fits Pennsylvania exam practice.
- B. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
- C. The client’s preference eliminates the need to disclose known material facts.
- D. The party who complains first automatically receives the remedy requested.
Correct Answer
A. Identify offer, acceptance, consideration, capacity, consent, and lawful objective in a way that fits Pennsylvania exam practice.
Explanation
The correct answer is A because contract elements requires candidates to identify offer, acceptance, consideration, capacity, consent, and lawful objective. 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: easy
- Domain: Contracts, Finance, and Transfer
- Objective: contract elements