Contracts
A NJ seller who changes their mind after accepting an offer and tries to revoke acceptance before the buyer receives notice is:
AFree to do so as the seller
BBound by the acceptance once communicated to the buyer or buyer's agent—revocation after acceptance is generally not possible✓ Correct
CPermitted with attorney consent
DPermitted during the attorney review period only
Explanation
Once a seller communicates acceptance to the buyer (or buyer's agent), a contract is formed. The seller cannot revoke their acceptance—it takes both mutual agreement or the attorney review period to undo a binding contract.
Related New Jersey Contracts Questions
- A NJ 'right of rescission' is provided to buyers under which specific NJ law for new condominium purchases?
- The NJ standard attorney review period of 3 business days begins from:
- In NJ, a 'radon contingency' in a residential purchase contract allows the buyer to:
- Under NJ law, a minor (under 18) who signs a real estate contract may:
- A NJ purchase contract's 'merger clause' states that the written contract represents the entire agreement of the parties. This means:
- In NJ, a 'right of rescission' available to a buyer during the attorney review period is different from a standard contract cancellation because:
- What distinguishes a land contract (installment sale contract) from a traditional mortgage sale in NJ?
- Under NJ's consumer protection framework, a real estate buyer who was defrauded may file an action under the NJ Consumer Fraud Act within:
Practice More New Jersey Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Jersey Quiz →