Contracts
A Virginia contract is said to be 'ratified' when:
AThe buyer submits the offer
BBoth parties have signed the contract without any changes✓ Correct
CThe seller signs the listing agreement
DThe settlement agent receives the contract
Explanation
In Virginia, a contract is ratified when all parties have signed the same version of the agreement without modification — there is a meeting of the minds and an executed contract.
Related Virginia Contracts Questions
- A Virginia real estate contract that contains an illegal provision (e.g., a racially restrictive covenant) is:
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