An addendum to a real estate contract:
Why Adds to or modifies the terms of the original contract Is Correct
Answer B: Adds to or modifies the terms of the original contract
Exam Tip: Contracts
Contract questions frequently test the essential elements required for a valid contract. Remember: competent parties, mutual consent, lawful object, and sufficient consideration. Watch for void vs. voidable distinctions.
People Also Study
Related Alabama Questions
- A real estate purchase contract becomes binding when:Contracts
- An Alabama buyer makes an offer on a home. The listing agent immediately responds that the seller is interested but wants $5,000 more. No written counteroffer is signed. Is there a binding contract?Contracts
- In Alabama, a listing agreement is a contract between:Contracts
- In Alabama, a contract signed by a 16-year-old is:Contracts
Key Terms to Know
A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Study This Topic
Practice More Alabama Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alabama Quiz →