In Order for a Deed to Be Effective Between the Purchaser

question 53

Multiple Choice

In order for a deed to be effective between the purchaser and the seller of real estate,the deed must:

• A) be in writing and signed by both parties.
• B) include the actual sale price.
• C) be recorded pursuant to the state statute.
• D) be delivered to the buyer by the seller with the intent to transfer title.

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Definitions:

Minimum Resale Prices

Agreements or policies that set the lowest price at which a product may be resold, often used by manufacturers to maintain brand image or stabilize market price.

Vertical Agreements

Contracts between companies at different levels of the supply chain, such as between a manufacturer and a retailer.

Sherman Act

An antitrust law enacted in 1890 to combat monopolies and cartels, promoting fair competition for the benefit of consumers.

DOJ

The Department of Justice, a federal executive department of the U.S. government responsible for the enforcement of the law and administration of justice.