Contracts, Finance, and Transfer Practice Question
Question
An agent compares two similar exam concepts for the South Carolina Real Estate Salesperson Exam involving contract elements and South Carolina Real Estate Commission. Which response best applies the rule? (Item 55)
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 South 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 South 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 South 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