In California, a real estate purchase contract entered into by a minor (under 18) is:
Why Voidable at the option of the minor but valid as to the other party Is Correct
Answer C: Voidable at the option of the minor but valid as to the other party
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 California Questions
- In a California standard residential purchase agreement, when does an offer become a binding contract?Contracts
- What is the legal effect of a 'time is of the essence' clause in a California real estate contract?Contracts
- A contract entered into by a minor (under 18) in California is generally:Contracts
- Under California law, a minor (under 18) who signs a real estate contract:Contracts
- Under California law, a mechanics' lien must be filed within what time period after completion of a construction project by a general contractor?Escrow & Title
- Under California law, when two unmarried persons take title to property as joint tenants, what right does each party have upon the other's death?Property Ownership
- In California, which form confirms the agency relationship at the time a purchase agreement is executed?Agency
Key Terms to Know
A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Math Concepts
Study This Topic
Practice More California Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free California Quiz →