Contracts
In Tennessee, a contract that is 'executed' means:
AIt has been signed but no action has been taken
BAll obligations of both parties have been fully performed✓ Correct
CThe contract has been notarized
DThe earnest money has been cashed
Explanation
An executed contract is one that has been fully performed by all parties — all obligations have been completed. A real estate purchase contract becomes executed at closing when all obligations are fulfilled.
Related Tennessee Contracts Questions
- In Tennessee, a real estate contract is 'executory' when:
- In Tennessee, an offer to purchase real estate is irrevocable after acceptance:
- In Tennessee, the Statute of Frauds requires that a real estate purchase contract must be:
- In Tennessee, a lease that contains an illegal provision is:
- In Tennessee, what is the legal effect of a counteroffer on the original offer?
- In Tennessee real estate transactions, 'earnest money' serves primarily as:
- In Tennessee, a 'land contract' (contract for deed) is characterized by:
- In Tennessee real estate practice, a 'multiple counteroffer' situation occurs when:
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