Contracts
A real estate purchase contract is fully executed when:
AThe seller signs the listing agreement
BBoth buyer and seller have signed and communicated acceptance✓ Correct
CThe buyer receives loan approval
DEscrow is opened
Explanation
A contract is fully executed when all parties have signed AND acceptance has been communicated to the offeror. Both elements — signature and communication — are required for a binding contract to be formed.
Related California Contracts Questions
- Which of the following is NOT an essential element of a valid real estate contract?
- What is 'assignment' of a contract?
- Specific performance is a remedy that requires:
- What does 'rescission' of a contract mean?
- What is 'specific performance' as a legal remedy in real estate contracts?
- What happens to the buyer's earnest money deposit if the buyer backs out of a purchase contract after removing all contingencies in California?
- A contract that is 'executory' is one that:
- In California, real estate contracts must be in writing to be enforceable under the:
Practice More California Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free California Quiz →