Contracts
A Wyoming buyer's offer is accepted by the seller at 3:00 PM on Monday. The buyer's acceptance of the seller's signature creates:
AA listing agreement
BAn executed contract (binding purchase agreement)✓ Correct
CAn option contract
DA right of first refusal
Explanation
When both parties have signed (and the acceptance is communicated to the offeror), a binding, executed contract is formed. At this point both parties have enforceable obligations.
Related Wyoming Contracts Questions
- A Wyoming contract includes a 'kick-out clause.' This allows the seller to:
- A Wyoming buyer submits a written offer to the seller. The seller verbally accepts. Is there a binding contract?
- A Wyoming buyer wishes to rescind a purchase contract because they changed their mind. Under contract law, the buyer:
- A Wyoming seller receives two competing offers simultaneously. The seller should:
- A Wyoming buyer defaults on a purchase agreement. The seller's remedy of 'liquidated damages' means:
- A Wyoming purchase agreement includes a 'seller's right to continue marketing' clause. This clause allows the seller to:
- A Wyoming real estate contract is voidable when:
- A Wyoming real estate listing that expires without a sale, and the seller re-lists with the same broker, should be documented with:
Practice More Wyoming Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wyoming Quiz →