Contracts
In Ohio, a purchase agreement becomes binding when:
AThe buyer signs and delivers the offer
BBoth parties have signed and the acceptance has been communicated✓ Correct
CThe earnest money is deposited
DThe title company confirms receipt of the contract
Explanation
A purchase agreement in Ohio becomes binding (mutually accepted) when all parties have signed and the acceptance has been communicated to the offeror.
Related Ohio Contracts Questions
- What is rescission of a contract?
- What is a material fact in real estate disclosure?
- What is an exculpatory clause in a real estate contract or lease?
- What is the Statute of Frauds' primary requirement for real estate contracts in Ohio?
- What is an addendum for inspection contingency in Ohio?
- In Ohio, a 'novation' in a real estate loan assumption occurs when:
- In Ohio, which of the following BEST describes a 'bilateral contract'?
- In Ohio, an option contract gives the optionee:
Practice More Ohio Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Ohio Quiz →