Promulgated Contract form Practice exam(2024)Questions And Answers

Promulgated Contract form Practice exam(2024)Questions And Answers If a buyer decides to terminate a contract, the seller must agree to the termination. A) True B) False - answerB) False Which of the following, with written, consent, may act as an Intermediary? A) The Broker representing the seller and buyer B) The Broker cooperating with the listing broker C) The salesman working with the seller and buyer D) The salesman sponsored by a broker representing the seller - answerA) The Broker representing the seller and buyer An agent would use the same contract for new construction no matter if it was completed or incomplete. A) True B) False - answerFALSE Regarding mediation - the Buyer and Seller are obligated under the terms of the Residential contract to abide by the ruling of the mediator. A) True B) False - answerB) False A bilateral contract is: A) A promise in exchange for a promise B) A promise made only by the agent C) A promise made only by the seller D) No promise - answerA) A promise in exchange for a promise The option paragraph of the contract creates an executed contract. A) True B) False - answerB) False A unilateral contract only binds one party to pe