Contracts
In South Dakota, which of the following best describes a 'breach of contract'?
AWhen either party changes their mind before signing
BThe unjustified failure of a party to perform their obligations under the contract✓ Correct
CWhen the contract expires before closing
DWhen both parties agree to modify the contract terms
Explanation
A breach of contract occurs when one party, without legal justification, fails to perform their obligations as required by the contract. The non-breaching party is entitled to remedies.
Related South Dakota Contracts Questions
- In South Dakota, which of the following is true about a 'liquidated damages clause' in a real estate contract?
- In South Dakota, a 'lease-option' agreement allows a tenant to:
- In South Dakota, which of the following correctly describes the status of a real estate contract signed under physical coercion (duress)?
- A South Dakota listing agreement requires the seller to allow the broker to place a lockbox on the property. This clause is:
- In South Dakota, a purchase agreement that includes a 'survival clause' means that specified representations:
- A South Dakota purchase agreement is signed on Monday. The buyer has a 3-day inspection contingency. When does the inspection period expire?
- A buyer submits an offer. Before the seller accepts, the buyer changes their mind and withdraws the offer. This is an example of:
- In South Dakota real estate, a 'backup offer' is:
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 →