Contracts
A Kentucky real estate agent who prepares a contract for sale is:
APracticing law and may be subject to disciplinary action
BPerforming a task within the scope of their license when using approved forms✓ Correct
CRequired to have an attorney review all contracts
DExempt from liability for errors in the contract
Explanation
Kentucky licensees may fill in preapproved form contracts as part of their licensed activities. Drafting custom contracts from scratch may constitute unauthorized practice of law.
Related Kentucky Contracts Questions
- A Kentucky real estate contract that allows either party to terminate for any reason without cause is called a:
- A Kentucky buyer wishes to add a contingency that allows them to cancel the contract if they cannot sell their current home within 45 days. This is called a:
- Which of the following would render a real estate contract void?
- Under a purchase agreement, 'time is of the essence' means:
- A counteroffer in a Kentucky real estate transaction:
- The integration clause in a real estate contract provides that:
- A purchase agreement subject to the buyer obtaining financing at a specific interest rate is an example of:
- A land contract (contract for deed) in Kentucky differs from a traditional sale because:
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