Contracts
A seller accepts a buyer's offer but the acceptance is lost in the mail and never received by the buyer. A contract exists:
AYes, because the seller signed the acceptance
BNo, because acceptance must be communicated to the offeror to be effective✓ Correct
CYes, under the mailbox rule, acceptance is effective when mailed
DNo, because all real estate contracts must be hand-delivered
Explanation
In real estate, acceptance must be communicated (delivered) to the offeror to be effective. If the acceptance is lost and never received, no contract is formed.
Related Tennessee Contracts Questions
- A seller who verbally accepts a buyer's written offer but does not sign the acceptance has created:
- In Tennessee, a 'land contract' (contract for deed) is characterized by:
- A counteroffer in a real estate transaction legally:
- When a purchase contract requires the buyer to notify the seller in writing that an inspection contingency has been satisfied, and the buyer fails to do so, the contingency is typically:
- A buyer who provides false financial information to obtain seller financing could be charged with:
- A purchase contract's 'inspection contingency' typically gives the buyer the right to:
- A Tennessee real estate contract has a 'dispute resolution' clause requiring mediation before litigation. This clause is:
- In Tennessee, a listing broker who procures a ready, willing, and able buyer under the terms of the listing agreement has typically earned their commission:
Practice More Tennessee Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Tennessee Quiz →