Contracts
Which of the following is an example of a 'contingency that benefits the seller' in a Mississippi purchase contract?
AA financing contingency for the buyer
BA kick-out clause allowing the seller to continue marketing and accept better offers under certain conditions✓ Correct
CAn inspection contingency for the buyer
DA title contingency for the buyer
Explanation
A kick-out clause (bump clause) allows the seller to continue marketing the property and accept a better offer even after accepting a contingent offer. If a better offer comes in, the original buyer must remove their contingency or lose the deal.
Related Mississippi Contracts Questions
- In Mississippi, an offer to purchase real estate becomes a binding contract when:
- A voidable contract in Mississippi is one that:
- Under Mississippi contract law, a contract for the sale of real estate entered into by a minor is:
- A Mississippi purchase contract includes an 'as-is' clause. This means:
- A Mississippi broker receives a buyer's earnest money deposit while the offer is pending. Before the offer is accepted, the buyer withdraws the offer. The broker must:
- A Mississippi real estate broker prepares a purchase contract. To avoid unauthorized practice of law, the broker should:
- Which type of contract gives one party the right to purchase property at a set price within a specified time but does not obligate them to do so?
- In Mississippi, a contract signed by a 16-year-old to purchase real property is:
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →