Contracts
An 'offer to purchase' in NJ becomes a contract when:
AThe buyer signs the offer
BThe seller accepts the offer without modification and communicates that acceptance to the buyer (or buyer's agent)✓ Correct
CThe broker receives the deposit
DThe attorney review period begins
Explanation
A contract is formed when the offeror (buyer) receives communication of the offeree's (seller's) unqualified acceptance. Until acceptance is communicated, there is no binding contract.
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