Contracts
In South Carolina, 'assignment' of a real estate contract means:
AThe buyer cancels the contract
BThe transfer of one party's contractual rights and obligations to a third party✓ Correct
CThe seller extends the closing deadline
DThe agent transfers the listing to another agent
Explanation
Assignment transfers one party's rights and duties under a contract to a third party. Unless prohibited by the contract, contracts are generally assignable. The original party may remain liable if the assignee doesn't perform.
Related South Carolina Contracts Questions
- In South Carolina, what is the effect of 'merger' at closing on the purchase contract?
- South Carolina law requires that real estate listing agreements be:
- In South Carolina, which clause in a purchase contract allows a buyer to withdraw if they cannot obtain financing?
- Under South Carolina law, a contract for the sale of real property must include a legal description of the property to be:
- What is the effect of a counteroffer on the original offer in a South Carolina real estate transaction?
- In South Carolina, which of the following must be disclosed by a seller in the Residential Property Condition Disclosure Statement?
- The South Carolina Residential Property Condition Disclosure Statement is required to be provided by:
- In South Carolina, a real estate contract signed under duress is:
Practice More South Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Carolina Quiz →