Contracts
A Florida seller accepts a buyer's offer. Before the buyer delivers the earnest money, the buyer withdraws the offer claiming it was an 'executory offer' not yet a contract. Is the withdrawal valid?
AYes — since no money changed hands, there is no contract
BNo — a valid contract is formed upon acceptance, regardless of whether the deposit has been delivered✓ Correct
CYes — deposits are required for a valid contract in Florida
DNo — only if the contract stated delivery of the deposit was a condition of acceptance
Explanation
A contract is formed in Florida upon mutual assent (offer and acceptance), regardless of whether the earnest money has been delivered. Failure to deliver the deposit as specified may be a breach, but it does not void the formation of the contract.
Related Florida Contracts Questions
- In Florida real estate, 'earnest money' (also called a good faith deposit) serves primarily to:
- A Florida listing agreement specifies that the seller will pay a commission if a 'ready, willing, and able' buyer is found. This means:
- The Florida Realtors/Florida Bar (FR/Bar) As Is Residential Contract for Sale and Purchase is commonly used when:
- Under a Florida purchase contract, if a buyer exercises their inspection right and requests repairs, the seller can:
- Under Florida's 'Parol Evidence Rule,' when a written real estate contract is complete and unambiguous:
- Under Florida law, when must a broker present an offer to a seller?
- In an 'open listing' in Florida, the broker earns a commission only if:
- In Florida, 'specific performance' as a remedy in a real estate contract dispute means:
Practice More Florida Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Florida Quiz →