Contracts, Finance, and Transfer Practice Question
Question
An agent compares two similar exam concepts for the Washington Real Estate Broker Exam involving contract elements and seller disclosure and environmental awareness. Which statement is the best answer? (Item 199)
Answer choices
- A. The client’s preference eliminates the need to disclose known material facts.
- B. The party who complains first automatically receives the remedy requested.
- C. Identify offer, acceptance, consideration, capacity, consent, and lawful objective in a way that fits Washington exam practice.
- D. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
Correct Answer
C. Identify offer, acceptance, consideration, capacity, consent, and lawful objective in a way that fits Washington exam practice.
Explanation
The correct answer is C because contract elements requires candidates to identify offer, acceptance, consideration, capacity, consent, and lawful objective. The Washington 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