Contracts
In South Carolina, which of the following is an example of 'unilateral contract' in real estate?
AA standard purchase and sale agreement
BAn option contract where only the seller is bound to perform✓ Correct
CA listing agreement
DA lease agreement
Explanation
An option contract is a unilateral contract — the seller (optionor) is legally bound to sell if the buyer (optionee) exercises the option, but the buyer is not obligated to buy. Only one party (the seller) has a firm obligation.
Related South Carolina Contracts Questions
- In South Carolina, when a buyer makes an offer and the seller neither accepts nor rejects but simply remains silent:
- A South Carolina buyer who terminates a contract due to a failed home inspection should:
- In South Carolina, the SC Association of REALTORS residential purchase contract includes an inspection contingency. If the seller refuses to make repairs, the buyer may:
- What is the legal effect of recording a lis pendens on a South Carolina property?
- In South Carolina, which phrase in a deed indicates a transfer of title from seller to buyer?
- In South Carolina, which of the following parties typically drafts the deed used in a real estate closing?
- In South Carolina, 'due diligence' in a commercial real estate transaction typically includes:
- A South Carolina seller who refuses to close after a contract is ratified may be subject to:
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 →