ContractsIntermediateDelaware Exam
An amendment to a Delaware real estate contract is:
AA change made before the original contract is signed
BA written modification agreed upon by all parties after the contract is executedCorrect
CA unilateral change made by the seller after acceptance
DAny verbal agreement between the parties during the transaction
Why A written modification agreed upon by all parties after the contract is executed Is Correct
Answer B: A written modification agreed upon by all parties after the contract is executed
A contract amendment is a written modification to the terms of an existing, executed contract, requiring the agreement and signatures of all parties to be enforceable.
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.
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