Contracts
A Wisconsin seller who accepts a buyer's offer has effectively created a(n):
AOption contract
BBilateral contract (both parties bound)✓ Correct
CUnilateral contract
DOpen listing
Explanation
An accepted offer to purchase creates a bilateral contract — both the buyer (to purchase) and the seller (to sell) are bound by their mutual promises.
Related Wisconsin Contracts Questions
- A Wisconsin buyer includes a home inspection contingency in the WB-11. The inspector finds a cracked foundation. The buyer may:
- A Wisconsin buyer includes a 'lead paint contingency' in a pre-1978 home purchase, allowing them to void the contract if:
- Under Wisconsin law, a seller who refuses to close after signing a purchase contract may be sued for:
- Under Wisconsin law, a listing agreement automatically terminates upon:
- Wisconsin's WB-24 Amendment to a Offer to Purchase is used when:
- A Wisconsin real estate contract that is 'voidable' due to mutual mistake:
- A Wisconsin commercial lease assignment occurs when:
- A Wisconsin 'net listing' (where the seller receives a set amount and the broker keeps everything above) is:
Practice More Wisconsin Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wisconsin Quiz →