Contracts
Under Alabama law, an offer to purchase real estate can be withdrawn:
AOnly after 24 hours
BAny time before acceptance by the seller✓ Correct
CNever — offers are binding once submitted
DOnly with AREC approval
Explanation
An offer may be revoked at any time before the seller has accepted it and communicated that acceptance to the buyer. Once properly accepted, the offer becomes a binding contract.
Related Alabama Contracts Questions
- The doctrine of 'time is of the essence' in a real estate contract means:
- In Alabama, a court may use the equitable remedy of rescission in a contract dispute to:
- In Alabama, what is the effect of a counteroffer on the original offer?
- Under Alabama law, contracts for the purchase of real estate must be in writing to be enforceable. This rule is known as the:
- In a real estate sales contract, 'earnest money' is best described as:
- Which of the following would make a real estate contract voidable?
- A contract in which one party has fully performed their obligations is called:
- Which of the following listing agreements gives the seller the right to sell the property themselves without owing a commission?
Practice More Alabama Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alabama Quiz →