Maine Contracts
Practice Questions & Answers (2026)
Contract law questions on the Maine real estate exam test both general contract principles and Maine-specific transaction requirements. The Maine Real Estate Commission tests how Maine contract law applies to purchase agreements, counteroffers, contingencies, and earnest money disputes. Pay close attention to offer and acceptance mechanics, how counteroffers extinguish prior offers, and the specific timelines under Maine law for earnest money handling and contingency resolution. These are areas where candidates who studied nationally often apply the right concept but the wrong ME-specific timeframe or rule.
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Maine Contracts — Practice Questions & Answers
122 questions on Contracts from the Maine real estate question bank. First 10 are free — sign up to unlock all 122.
Q1. Under Maine law, which of the following is required for a real estate purchase agreement to be enforceable?
Explanation
Maine's Statute of Frauds requires that contracts for the sale of real property be in writing and signed by both parties to be enforceable in court.
Q2. In Maine, when a buyer includes an inspection contingency in a purchase agreement, the buyer has the right to:
Explanation
An inspection contingency allows the buyer to withdraw from the contract if the inspection reveals conditions the buyer deems unsatisfactory, protecting the buyer's earnest money.
Q3. In Maine, 'consideration' in a real estate contract refers to:
Explanation
Consideration is something of value exchanged between the contracting parties. In a real estate purchase, the consideration is typically the purchase price paid by the buyer in exchange for the deed.
Q4. Which type of listing agreement gives the broker the exclusive right to sell and earn a commission regardless of who finds the buyer?
Explanation
An exclusive right-to-sell listing entitles the broker to a commission if the property is sold by anyone — including the seller — during the listing period, providing the broker the most protection.
Q5. If a seller receives two offers simultaneously, the seller may:
Explanation
A seller who receives multiple offers may accept one and reject the other(s), counter one or all offers, or reject all — but may not accept two offers simultaneously for the same property.
Q6. Which of the following is true about an 'as-is' clause in a Maine purchase agreement?
Explanation
An 'as-is' clause means the buyer accepts the property in its current condition, but it does not relieve the seller of the duty to disclose known material defects.
Q7. In Maine, which type of deed provides the greatest protection to the buyer?
Explanation
A general warranty deed provides the greatest protection because the grantor warrants title against all defects and claims, including those arising before the grantor owned the property.
Q8. In Maine real estate transactions, a purchase and sale agreement is legally binding when:
Explanation
A Maine purchase and sale agreement becomes a legally binding contract when both parties have signed and the acceptance has been communicated to the offeror.
Q9. Maine is considered a 'title theory' or 'lien theory' mortgage state?
Explanation
Maine is a lien theory state. The borrower holds title to the property, and the mortgage serves as a lien on the property in favor of the lender.
Q10. The Statute of Frauds in Maine requires that real estate contracts:
Explanation
Maine's Statute of Frauds requires that contracts for the sale of real property be in writing and signed by the party against whom enforcement is sought.
Q11. A Maine real estate contract contains an 'as-is' clause. This means:
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