Real Estate 84 ch08 quiz - 1 out of 1 points If a...

 1 out of 1 points
If a contingency is not fulfilled despite a good faith effort to fulfill it, what may the
person who benefits from the contingency do?
Selected Answer: d.
Either A or B
Answers: a.
Terminate the agreement and have the good faith deposit returned
b.
Remove the contingency and continue with the agreement
c.
Sue the other party for a breach of contract
d.
Either A or B
 Question 2
1 out of 1 points
Which party to a purchase agreement usually benefits from a contingency?

 Question 3
1 out of 1 points
A buyer and seller agree that the sale will be contingent on the buyer obtaining financing.
The buyer later decides that she doesn't want the property, so she doesn't bother to fill out
any loan applications. The contingency is dropped from the agreement because:

 Question 4
1 out of 1 points
A certain contingency benefits both the buyer and the seller. Whose consent is needed to
remove this contingency?
 Question 5
1 out of 1 points
Which of the following is not a necessary element in a contingency?