The phrase 'meeting of the minds' in contract law refers to:
Why Mutual assent — both parties agreeing to the same terms Is Correct
Answer B: Mutual assent — both parties agreeing to the same terms
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
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- Mutual assent in an Alabama real estate contract means:Contracts
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- Which of the following best describes mutual consent (mutual assent) in contract formation?Contracts
- Subagency in Alabama means:Agency
- Under Alabama law, a transaction broker owes which duties to both parties?Agency
- A seller's broker who discovers that the buyer their seller is under contract with is the broker's own relative should:Agency
- A real estate agent who represents neither the buyer nor the seller, but assists both parties with a transaction, is called a:Agency
Key Terms to Know
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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