Contracts
Which clause in an Idaho purchase contract specifies a date by which the transaction must close?
AContingency clause
BClosing date clause✓ Correct
CExpiration clause
DTime is of the essence clause
Explanation
The closing date clause specifies the date by which the transaction must be completed. When combined with a 'time is of the essence' provision, missing this date may constitute breach.
Related Idaho Contracts Questions
- A 'liquidated damages' clause in an Idaho purchase contract typically provides that if the buyer defaults:
- Which of the following BEST describes a land contract (contract for deed)?
- What is a 'survey contingency' in an Idaho real estate contract?
- What is 'possession at closing' versus 'possession after closing' in an Idaho purchase contract?
- What is 'laches' as a defense in an Idaho real estate dispute?
- In Idaho, what is a 'right of rescission' in the context of consumer credit transactions?
- What is 'anticipatory repudiation' of a real estate contract in Idaho?
- Which of the following documents would contain the legal description required for a valid deed in Idaho?
Practice More Idaho Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Idaho Quiz →