Contracts
A Mississippi real estate contract is 'contingent upon buyer's attorney's approval within 5 days.' The buyer's attorney reviews the contract and finds an unusual easement clause. The attorney has the right to:
ASimply approve or disapprove without explanation
BApprove the contract as-is, require modifications to the easement clause, or disapprove the contract per the contingency terms — protecting the buyer's legal interests✓ Correct
CRenegotiate the entire purchase price
DConvert the purchase contract to a lease
Explanation
An attorney approval contingency gives the attorney (acting for the buyer) the right to review the contract and either approve it, require specific modifications, or disapprove it within the specified period. The attorney's role is to protect the client's legal interests within the scope of the contingency.
Related Mississippi Contracts Questions
- A Mississippi real estate contract that requires one party to do something is an 'affirmative covenant.' A contract that prohibits a party from doing something is a:
- A Mississippi buyer and seller reach an agreement, and the buyer gives the seller $2,000 in earnest money. The earnest money is best described as:
- A Mississippi lease contains a 'no pets' clause. The tenant adopts a cat without permission. The landlord discovers the cat and wants to enforce the lease. The landlord's appropriate response is:
- Which of the following would make a Mississippi real estate contract voidable?
- A 'right of first refusal' in a Mississippi commercial lease gives the tenant the right to:
- Earnest money in a Mississippi real estate transaction is best described as:
- A contingency clause in a Mississippi real estate purchase agreement:
- Which of the following is an example of a 'contingency that benefits the buyer' in a Mississippi purchase contract?
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →