What Is the Legal Effect of a Financing Condition in an Offer

question 41

Multiple Choice

What is the legal effect of a financing condition in an offer?

• A) There is no contract until the vender provides the seller with financing.
• B) The transaction will not proceed unless the buyer's lender grants a mortgage.
• C) The lender must approve the price,deposit,and method of payment.
• D) The lender will be given control of the money needed to complete the deal.

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Definitions:

Closing

The concluding part of a document or message that summarizes the main points or presents a final thought.

Bad-news Communication

The process of conveying unfortunate or disappointing information in a sensitive and thoughtful manner.

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The overall outlook, attitude, satisfaction, and confidence that employees feel at work.

Grapevine

An informal channel of communication within an organization, often characterized by the spread of rumors or unofficial information.