ContractsIntermediateAlabama Exam

Which of the following would make an Alabama real estate contract voidable rather than void?

AAn illegal purpose

BOne party was 17 years old (a minor) at the time of signingCorrect

CNo consideration was provided

DThe contract was not in writing, under typical circumstances

Why One party was 17 years old (a minor) at the time of signing Is Correct

Answer B: One party was 17 years old (a minor) at the time of signing

A contract signed by a minor is voidable at the minor's election (not void) — the minor may choose to affirm or disaffirm the contract upon reaching the age of majority.

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.

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Key Terms to Know

Earnest Money

A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.

Option Contract

A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.

Contingency

A condition in a purchase contract that must be satisfied before the sale can proceed to closing.

Purchase Agreement

A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.

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Real Estate Contracts Guide

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