Contracts
A bilateral contract in real estate involves:
AOnly one party making a promise
BBoth parties exchanging promises to perform✓ Correct
CA government entity and a private party
DA contract that covers two separate properties
Explanation
A bilateral contract (also called a two-sided contract) involves both parties making promises to each other; a real estate purchase agreement is a bilateral contract.
Related Indiana Contracts Questions
- In Indiana, an offer to purchase real estate may be withdrawn by the offeror at any time:
- An option contract gives the optionee the:
- Under Indiana law, an amendment to a real estate purchase agreement must be:
- A counteroffer legally:
- Anticipatory repudiation occurs when:
- A unilateral contract in real estate is exemplified by:
- A buyer who defaults on a purchase agreement may face:
- The mailbox rule states that an acceptance of an offer is effective:
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