Contracts
A South Dakota purchase agreement states the buyer will purchase the property 'as-is.' This means:
AThe seller has no disclosure obligations
BThe buyer accepts the property in its current condition but the seller must still disclose known material defects✓ Correct
CThe buyer waives all rights to an inspection
DThe as-is clause eliminates all warranties
Explanation
An 'as-is' clause means the buyer accepts the property in its current condition and the seller won't make repairs, but the seller still must disclose known material defects. It doesn't negate disclosure obligations.
Related South Dakota Contracts Questions
- In South Dakota, which party typically drafts the initial purchase offer in a residential transaction?
- In South Dakota, an 'amendment' to a real estate purchase contract requires:
- In South Dakota, a 'force majeure' clause in a real estate contract addresses:
- In South Dakota, an 'amendment' to an executed real estate contract requires:
- In South Dakota, the 'integration clause' (merger clause) in a real estate contract:
- In South Dakota, a contract for the sale of real estate is typically executed on which of the following forms?
- In South Dakota, 'impossibility of performance' as a contract defense means:
- When a real estate contract is said to be 'executed,' it means:
Practice More South Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Dakota Quiz →