Contracts
An assignment clause in a South Dakota purchase agreement allows the buyer to:
ATransfer their rights and obligations under the contract to a third party✓ Correct
BAssign a different property in exchange
CChange the closing date unilaterally
DReplace the listing agent with another broker
Explanation
An assignment clause permits the buyer (assignor) to transfer their contractual rights and obligations to another party (assignee), which may be used in investment or flipping scenarios.
Related South Dakota Contracts Questions
- In South Dakota, a real estate purchase contract with an 'inspection contingency' generally gives the buyer the right to:
- In South Dakota, which party typically drafts the initial purchase offer in a residential transaction?
- In South Dakota, which of the following would be considered 'adequate consideration' in a real estate option contract?
- Under South Dakota contract law, a 'unilateral mistake' in a real estate contract (only one party was mistaken about a key fact) typically:
- In South Dakota real estate, 'specific performance' as a contract remedy means:
- An acceleration clause in a South Dakota promissory note allows the lender to:
- In South Dakota, specific performance is a legal remedy in real estate that requires:
- In South Dakota, a 'short sale' purchase occurs when:
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 →