Contracts
The GAR 'Exhibit A — Legal Description and Other Property Information' is important because:
AA. It sets the commission rate
BB. It provides the legal description of the property, which must be sufficient to identify the property in a deed✓ Correct
CC. It lists the buyer's loan terms
DD. It describes the condition of all major systems
Explanation
A real estate contract must contain an adequate legal description of the property to satisfy the Statute of Frauds. Exhibit A provides this description and other identifying property information necessary for a valid contract.
Related Georgia Contracts Questions
- The Georgia law requiring real estate contracts to be in writing is based on which principle?
- Under Georgia contract law, which element is NOT required for a valid real estate contract?
- Under the GAR Purchase and Sale Agreement, if the seller does not respond to an offer within the stated deadline, the offer:
- Under the GAR contract, the 'time is of the essence' provision means:
- A real estate 'option to buy' differs from a right of first refusal in that an option:
- A 'subject to' purchase means the buyer is acquiring property:
- A voidable contract is one that:
- In Georgia real estate contracts, a 'special stipulation' is used to:
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