Contracts
In Tennessee, when a seller accepts a buyer's offer, the moment the acceptance is communicated to the buyer is known as:
AThe closing date
BThe effective date of the contract✓ Correct
CThe contingency removal date
DThe title transfer date
Explanation
The effective date of the contract is the date on which the acceptance is communicated (delivered) to the offeror. This starts the clock for all contract deadlines and contingency periods.
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