Contracts
In Louisiana, a 'Uniform Offer to Purchase' form, when properly completed and accepted, constitutes a:
ANon-binding letter of intent only
BBinding contract for the sale and purchase of immovable property✓ Correct
CPreliminary agreement requiring additional signatures from both attorneys
DAn offer that expires automatically without further action
Explanation
A properly completed and mutually accepted Offer to Purchase (Purchase Agreement) in Louisiana is a binding contract for the sale of immovable property, subject to any contingencies stated in the agreement.
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