Contracts, Finance, and Transfer Practice Question
Question
A closing coordinator flags an issue before settlement for the Virginia Real Estate Salesperson Exam involving contract elements and property owner association disclosure awareness. Which statement is the best answer? (Item 199)
Answer choices
- A. The safest practice is to avoid written documentation so fewer questions are raised later.
- B. A licensee may give legal conclusions instead of recommending qualified legal advice when uncertain.
- C. Identify offer, acceptance, consideration, capacity, consent, and lawful objective in a way that fits Virginia exam practice.
- D. A verbal understanding always replaces a written real estate requirement.
Correct Answer
C. Identify offer, acceptance, consideration, capacity, consent, and lawful objective in a way that fits Virginia exam practice.
Explanation
The correct answer is C because contract elements requires candidates to identify offer, acceptance, consideration, capacity, consent, and lawful objective. The Virginia 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