Contracts
A contract is considered 'executed' when:
ABoth parties have signed the contract
BAll parties have fully performed all obligations under the contract✓ Correct
CThe property has been listed on the MLS
DThe earnest money has been deposited
Explanation
An executed contract is one where all parties have completely fulfilled all their obligations. Note: a contract can also be referred to as 'executed' when signed, but in real estate, 'fully executed' typically means all terms have been performed.
Related Arkansas Contracts Questions
- An earnest money dispute between buyer and seller in Arkansas is typically resolved by:
- Which of the following statements about earnest money is TRUE?
- In Arkansas, a contract for the sale of real estate must include which of the following to satisfy the Statute of Frauds?
- Which of the following is NOT an essential element of a valid real estate contract?
- Under Arkansas's Statute of Frauds, real estate purchase contracts must be:
- An addendum to a real estate contract:
- In a real estate contract, 'time is of the essence' means that:
- A contract that is 'voidable' differs from a 'void' contract in that a voidable contract:
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