Contracts
In Oregon, when a buyer makes an offer 'subject to attorney review,' what does this mean?
AThe offer is not binding until OREA reviews it
BEither party's attorney may review and modify or disapprove the contract within a specified period✓ Correct
CThe offer is conditional on the buyer hiring an attorney
DThe attorney must sign as a co-buyer
Explanation
An attorney review contingency allows one or both parties to have their attorney review the purchase contract within a specified timeframe after mutual acceptance. The attorney may approve it, request modifications, or disapprove it.
Related Oregon Contracts Questions
- Under Oregon contract law, an agreement that lacks consideration is:
- Which of the following is an example of a 'unilateral contract' in real estate?
- A buyer's purchase agreement includes a contingency stating 'subject to buyer's attorney review within 5 days.' This is a:
- In a real estate transaction, an 'addendum' becomes part of the purchase contract when:
- What is a 'contingency release' in an Oregon real estate transaction, and what is the significance of the buyer signing one?
- Under Oregon law, which of the following contingencies, if not removed by a specified deadline, most typically allows the buyer to walk away and keep their earnest money?
- Under Oregon law, a listing agreement is a contract between:
- In Oregon, what is a 'right of first refusal' clause in a real estate contract?
Practice More Oregon Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oregon Quiz →