Contracts
In Vermont, if a seller accepts two offers simultaneously by mistake, the general legal principle is:
ABoth contracts are valid and the seller must complete both
BThe first accepted contract prevails if there was a valid offer and acceptance✓ Correct
CNeither contract is valid
DThe seller may choose which contract to honor
Explanation
Generally, the first binding contract (valid offer and acceptance communicated to the buyer) takes priority. The seller would be in breach with respect to the second buyer and may face liability for damages.
Related Vermont Contracts Questions
- In Vermont, a 'specific performance' remedy for a seller's breach of a real estate contract allows the buyer to:
- The parol evidence rule in Vermont real estate contract law means:
- In Vermont, an option contract gives the optionee (buyer) the:
- If a Vermont seller accepts a buyer's offer and later discovers a better offer, the seller:
- In a Vermont real estate contract, an 'earnest money deposit' serves primarily as:
- Under Vermont law, a real estate listing agreement creates an agency relationship between the broker and seller. What type of listing agreement gives only ONE broker the right to sell and the broker earns a commission even if the seller finds the buyer?
- Vermont's 'transfer of earnest money to seller' upon default requires:
- A Vermont 'notice to perform' or 'cure notice' in a real estate transaction is used when:
Practice More Vermont Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Vermont Quiz →