Contracts
In Louisiana, which of the following is an example of a 'unilateral contract'?
AA listing agreement
BAn option to purchase — only the optionor (seller) is bound; the optionee (buyer) has the right but not the obligation to purchase✓ Correct
CA buyer representation agreement
DA purchase and sale agreement
Explanation
An option contract is unilateral — only the optionor's promise is binding (to sell at the specified price). The optionee is not obligated to purchase; they simply have the right to do so within the option period upon paying the option consideration.
Related Louisiana Contracts Questions
- In Louisiana, a 'cash transaction' closing that does not involve any lender financing is typically required to be completed using a(n):
- In Louisiana, a residential lease automatically renews as a month-to-month tenancy if:
- A Louisiana buyer includes a home inspection contingency in their purchase agreement. If the inspection reveals major issues, the buyer may:
- In Louisiana, the 'cause' of a contract (causa) is best described as:
- In Louisiana, 'mutual consent' as required for a valid contract means:
- A purchase agreement contingency in Louisiana that 'time is of the essence' means:
- A 'right of first refusal' in a Louisiana lease gives the tenant the right to:
- Louisiana's 'redhibition' remedy allows a buyer to seek which of the following when a hidden defect is discovered after closing?
Practice More Louisiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Louisiana Quiz →