Contracts
In Michigan, an offer is effectively terminated by all of the following EXCEPT:
ARejection by the offeree
BExpiration of the time period
CA counteroffer
DThe offeree taking the offer under consideration for more than 24 hours✓ Correct
Explanation
An offer terminates by rejection, expiration of time, counteroffer, death or incapacity of either party, or revocation. Simply considering an offer for more than 24 hours does not automatically terminate it unless that was the specified deadline.
Related Michigan Contracts Questions
- In Michigan, which of the following correctly describes an 'as-is' sale clause?
- In Michigan, the term 'contingent' on a property listing means:
- The concept of 'time is of the essence' in a Michigan real estate contract means:
- In Michigan, a 'home warranty' provided at closing typically covers:
- Under Michigan law, an option contract gives the optionee (buyer) the right to:
- In Michigan, a buyer who discovers after closing that the seller failed to disclose a known material defect may:
- Under Michigan law, real estate purchase agreements must be:
- In Michigan, which form of listing agreement gives the seller the greatest flexibility to sell the property themselves?
Practice More Michigan Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Michigan Quiz →