Contracts
A bilateral contract requires:
AOnly one party to perform an obligation
BBoth parties to make promises and perform obligations✓ Correct
CA government witness to be valid
DNotarization in Montana
Explanation
A bilateral contract involves mutual promises — both parties are obligated to perform. A real estate purchase and sale agreement is a bilateral contract: the buyer promises to pay and the seller promises to convey title.
Related Montana Contracts Questions
- A 'time is of the essence' clause in a Montana real estate contract means:
- An offer becomes a binding contract when:
- Under a listing contract, a broker earns a commission when they produce a buyer who is:
- Under Montana law, a real estate broker's commission is earned when:
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- A buyer's offer is accepted and they have a signed purchase agreement. Before closing, the seller refuses to proceed. What remedy may be available to the buyer?
- An offer to purchase is best revoked before acceptance by:
- Which clause in a listing agreement allows a broker to earn a commission if the property is sold to a buyer introduced during the listing period, even after the listing expires?
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