Question

What are the four elements required of every valid and enforceable contract?

Accepted Answer

competent parties; legal purpose; offer and acceptance; and consideration

Answer

competent parties; legal address; dollar amount; and clear title

Answer

competent parties; legal address; broker signatures; and cash

Answer

competent parties; legal purpose; negotiated price; and signatures

Question 24 - Contracts Practice Test for the Real Estate License Exam