Contracts
When a Georgia real estate contract's closing date passes without closing due to circumstances beyond either party's control (like a natural disaster), the contract may be:
AAutomatically void
BExtended by mutual agreement or under force majeure provisions✓ Correct
CEnforceable only by the seller
DSubject to automatic forfeit of earnest money
Explanation
When extraordinary events prevent closing, parties can mutually agree to extend the closing date or may rely on force majeure provisions. Courts may also excuse performance when truly beyond the parties' control.
Related Georgia Contracts Questions
- A 'material breach' of a real estate contract is one that:
- In Georgia, the Statute of Frauds requires that real estate contracts be:
- Under Georgia contract law, a contract signed by a minor (under age 18) is:
- A listing agreement in Georgia is a contract between:
- Under the GAR Purchase and Sale Agreement, if the seller does not respond to an offer within the stated deadline, the offer:
- In Georgia, an offer to purchase real property must be communicated in writing because of:
- Under Georgia law, who has the authority to release earnest money when a transaction falls through?
- In a GAR contract, the Due Diligence Period gives the buyer the right to:
Practice More Georgia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Georgia Quiz →