Contracts
An Oklahoma sales contract includes an 'as-is' clause. This clause means:
AThe seller has no obligation to disclose known material defects
BThe buyer accepts the property in its current condition but does not waive the right to conduct inspections, nor does it relieve the seller of fraud liability for concealing known defects✓ Correct
CThe buyer cannot inspect the property
DAll warranties are automatically eliminated including implied warranties of habitability
Explanation
An 'as-is' clause means the buyer accepts the property's current condition and the seller won't make repairs. However, it does not eliminate the seller's duty to disclose known material defects, does not bar buyer inspections, and does not protect a seller who actively conceals defects.
Related Oklahoma Contracts Questions
- An Oklahoma buyer who has a signed purchase contract on a property discovers that the seller recently obtained a permit to drill an oil well on the property that was not disclosed. The buyer may:
- Under Oklahoma contract law, an offer lapses (terminates) when:
- Liquidated damages in a purchase contract refer to:
- An Oklahoma purchase contract that contains a home inspection contingency allows the buyer to:
- A contract for the sale of Oklahoma mineral rights must be:
- A listing agreement that automatically renews unless cancelled is known as a:
- When an Oklahoma purchase contract contains a 'subject to appraisal' contingency, the buyer may terminate if:
- In Oklahoma, the earnest money in a real estate transaction is:
Practice More Oklahoma Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oklahoma Quiz →