Contracts
In NJ, the standard residential real estate contract used by most attorneys is based on the form prepared by:
AThe NJREC
BThe New Jersey State Bar Association and the New Jersey Association of Realtors jointly✓ Correct
CThe NJ Department of Banking and Insurance
DThe NJ Division of Consumer Affairs
Explanation
The standard NJ residential contract of sale was developed jointly by the NJ State Bar Association and the NJ Association of Realtors. Attorneys commonly use and modify this form.
Related New Jersey Contracts Questions
- If a buyer defaults on a NJ real estate contract, the seller's most common contractual remedy is:
- In New Jersey, a home inspection contingency allows the buyer to:
- Unconscionability as a contract defense means:
- During the NJ attorney review period, which party may cancel the contract?
- An addendum to a NJ real estate contract is used to:
- In NJ, the doctrine of 'specific performance' in a real estate contract means:
- Which of the following is an essential element of a valid real estate contract in New Jersey?
- During the NJ attorney review period, which of the following is true?
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