In Arizona, a contract to sell real property 'as is' where the seller conceals a known defect is:
Why Potentially fraudulent—the 'as is' clause does not protect sellers who knowingly conceal defects Is Correct
Answer B: Potentially fraudulent—the 'as is' clause does not protect sellers who knowingly conceal defects
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 Arizona Questions
- An 'as-is' clause in an Arizona purchase contract means:Contracts
- An Arizona REALTORS® Purchase Contract includes a default clause specifying that the seller may retain the earnest money as liquidated damages. What must the seller do to trigger this remedy?Contracts
- A contract clause stating that upon buyer default, the seller may keep the earnest money as full compensation and may not pursue additional damages is known as a:Contracts
- A developer in Arizona cannot sell or accept a deposit on a lot in a new subdivision before the ADRE Public Report is issued. A buyer who signs a purchase contract before receiving the Public Report may:Land Use & Zoning
- A contingency clause in an Arizona purchase contract:Contracts
- An Arizona agent representing a buyer discovers a material defect in a property that the seller has not disclosed. The agent must:Agency
- An Arizona listing agent discovers a material defect in the property that the seller forgot to disclose. The agent should:Agency
- An Arizona appraiser who knowingly provides a fraudulent appraisal may face:Property Valuation
Key Terms to Know
A condition in a purchase contract that must be satisfied before the sale can proceed to closing.
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.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Study This Topic
Practice More Arizona Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →