Contracts
In Kansas, what does 'good faith and fair dealing' require of parties to a real estate contract?
AThat neither party profit from the transaction
BThat both parties act honestly, deal fairly, and not act to deprive the other of the benefits they reasonably expected from the contract✓ Correct
CThat parties always split costs equally
DThat the listing broker approve all offers
Explanation
The implied covenant of good faith and fair dealing is present in all Kansas contracts. It requires parties to act honestly and reasonably and prohibits conduct that would unfairly deprive the other party of their expected contract benefits.
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