Contracts
A NC buyer makes an offer on a Friday. The seller has until Sunday at 5 PM to accept. If the seller's broker calls the buyer's broker on Sunday at 4 PM to verbally accept, is there a binding contract?
AYes, verbal acceptance is immediately binding
BYes, if the written acceptance is delivered by the deadline
CNo, in real estate contracts written acceptance is required for a binding agreement✓ Correct
DNo, acceptance was too late
Explanation
Real estate contracts in NC must be in writing (Statute of Frauds). Verbal acceptance alone does not create an enforceable contract; the acceptance must be in writing and delivered to the offeror.
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