Contracts
In Tennessee, a purchase contract becomes 'ratified' (fully executed) when:
AThe buyer submits the earnest money
BAll parties have signed and the signed acceptance has been communicated back to the offeror✓ Correct
CThe title commitment is issued
DThe lender issues a loan commitment
Explanation
A ratified (fully executed) contract exists when all parties have signed the same version of the agreement and the signed acceptance has been communicated (delivered back) to the offeror. Both the signatures and communication of acceptance are required.
Related Tennessee Contracts Questions
- A buyer in Tennessee who is unsatisfied with an inspection report and wants to negotiate repairs should:
- A Tennessee seller who receives two offers simultaneously should:
- In Tennessee, a 'due-on-sale' clause in a mortgage means:
- In Tennessee, an offer to purchase real estate is irrevocable after acceptance:
- In Tennessee, a 'subordination, non-disturbance, and attornment agreement' (SNDA) in commercial real estate protects:
- A real estate contract that is 'voidable' may be:
- In Tennessee, a 'specific performance' action is most likely to succeed when:
- A seller who verbally accepts a buyer's written offer but does not sign the acceptance has created:
Practice More Tennessee Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Tennessee Quiz →