In Colorado, a 'title objection' submitted by the buyer regarding a recorded easement that was known to exist before the contract was signed would typically:
Why Be considered a waived objection since the easement was a known matter before contract Is Correct
Answer B: Be considered a waived objection since the easement was a known matter before contract
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.
Key Contracts Terms in This Question
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Key Terms to Know
A non-possessory right to use another person's land for a specific purpose.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Option ContractA 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.
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