Contracts
A contract clause requiring all disputes to be submitted to arbitration rather than resolved in court is called a(n):
AEscalation clause
BArbitration clause✓ Correct
CLiquidated damages clause
DAcceleration clause
Explanation
An arbitration clause requires the parties to submit disputes to a neutral arbitrator rather than litigate in court. Such clauses are common in real estate purchase agreements and listing contracts.
Related Alaska Contracts Questions
- An Alaska purchase agreement includes an 'earnest money forfeiture' clause. This means that if the buyer defaults:
- A contingency clause in a purchase agreement that states 'this offer is contingent upon the buyer obtaining a mortgage at no more than 7% interest' is an example of:
- In Alaska, the option period in an option-to-purchase agreement gives the optionee the right to:
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- In Alaska, a listing agreement is a contract between:
- Under the Alaska Uniform Vendor and Purchaser Risk Act, if a property is materially damaged after the purchase agreement is signed but before closing, the risk of loss falls on:
- A listing agreement is an employment contract between a:
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