Contracts
What is the difference between an offer and a contract in Nevada real estate?
AThey are the same; an accepted offer is not yet a contract
BAn offer becomes a contract when it is accepted, communicated to the offeror, and all essential terms are agreed upon✓ Correct
CA contract requires court approval; an offer does not
DAn offer expires after 24 hours in Nevada; a contract does not
Explanation
In Nevada, an offer becomes a binding contract when it is accepted exactly as offered (no modifications) and acceptance is communicated to the offeror. Any modification constitutes a counteroffer, not acceptance. All essential terms must be agreed upon.
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