Contracts
In Louisiana, an offer to purchase may be revoked by the buyer:
AOnly after the seller signs it
BAt any time before the seller accepts and communicates acceptance to the buyer✓ Correct
COnly with the LREC's approval
DNever — all submitted offers are irrevocable
Explanation
An offer may be revoked by the offeror at any time before acceptance is communicated. Once the seller accepts and the buyer is notified, the contract is formed and the offer can no longer be revoked.
Related Louisiana Contracts Questions
- In Louisiana, a 'release deed' is used to:
- In Louisiana, a 'home warranty plan' included in a real estate transaction provides:
- In Louisiana, a purchase agreement is considered 'bilateral' because:
- A Louisiana buyer submits an offer with a 5-day inspection contingency. On day 4, the buyer's inspector finds major foundation issues. The buyer should:
- In Louisiana, a 'walk-through inspection' by the buyer before closing is designed to:
- In Louisiana, a 'promissory note' in a real estate transaction is a:
- Under Louisiana law, a bond for deed contract allows the buyer to:
- In Louisiana, 'breach of contract' by a buyer who refuses to close without valid cause may result in:
Practice More Louisiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Louisiana Quiz →