Contracts
In a Montana real estate contract, 'time is of the essence' means:
AThe contract expires within 24 hours if not signed
BAll deadlines and dates in the contract must be strictly met✓ Correct
CThe closing must occur within 30 days
DThe seller must respond within 48 hours
Explanation
'Time is of the essence' is a contract clause meaning that the specified dates and deadlines are material terms; failure to meet them may constitute a breach of contract.
Related Montana Contracts Questions
- Earnest money in a Montana real estate transaction is best described as:
- Which of the following is NOT an essential element of a valid real estate contract in Montana?
- In Montana, 'mutual rescission' of a real estate contract means:
- Under Montana law, which of the following would make a contract void (not merely voidable)?
- If a seller accepts one offer and then receives a higher offer, the seller:
- Montana's Seller's Property Disclosure Act requires sellers to disclose:
- A contingency in a purchase contract allows a buyer to:
- A real estate purchase contract typically specifies which party pays transfer taxes and recording fees. In the absence of a specific agreement in Montana:
Practice More Montana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Montana Quiz →