Contracts
In Washington, the seller's obligation under a purchase agreement is described as:
AAn executory contract until closing✓ Correct
BAn executed contract upon acceptance
CAn illusory promise until earnest money is deposited
DA conditional offer until inspection
Explanation
A purchase agreement is an executory contract — both parties have obligations still to be performed (seller to convey title, buyer to pay) — until closing, when it becomes fully executed.
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