Contracts, Finance, and Transfer Practice Question
Question
A closing coordinator flags an issue before settlement for the Tennessee Affiliate Broker Exam involving specific performance and agency and property condition disclosure practice. What should the licensee understand? (Item 48)
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. The client’s preference eliminates the need to disclose known material facts.
- D. Recognize a court order requiring contract performance in appropriate cases in a way that fits Tennessee exam practice.
Correct Answer
D. Recognize a court order requiring contract performance in appropriate cases in a way that fits Tennessee 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 Tennessee 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