Contracts
Which of the following is NOT a required element for a valid real estate contract in New York?
AOffer and acceptance
BConsideration
CLegal capacity of the parties
DNotarization✓ Correct
Explanation
A valid contract requires offer and acceptance, consideration, legal capacity, and lawful purpose. Notarization is NOT a required element for a valid contract, though it may be needed for recording deeds and mortgages.
Related New York Contracts Questions
- Under New York law, a seller who breaches a real estate purchase contract by refusing to convey title may be subject to which of the following buyer remedies?
- In New York, the 'time is of the essence' clause in a real estate contract means:
- In New York, a 'tender' in a real estate contract dispute means:
- In New York, a 'contract deposit' held by the seller's attorney is typically:
- In New York, a 'subject to' clause in a purchase offer (e.g., 'subject to buyer's attorney review within 5 business days') creates:
- Under New York law, 'damages for breach of contract' in a real estate purchase agreement may include which of the following for an aggrieved buyer?
- Under New York law, a real estate contract that is 'unconscionable' may be:
- In New York, a 'binder' or 'memorandum of sale' signed before the formal contract is typically:
Practice More New York Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New York Quiz →