While Many Closings Are Conducted as a Live Event in Which

question 14

Multiple Choice

While many closings are conducted as a live event in which both buyer and seller parties are present, a number of states have moved towards the practice of escrow closings as the primary mode of real estate transaction. Based on your understanding of an escrow closing, all of the following parties are able to be an escrow agent EXCEPT:

• A) Bank
• B) Attorney
• C) Broker
• D) Grantor / Grantee

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Definitions:

Treble Damages

A legal remedy that allows for triple the amount of actual damages to be awarded to a plaintiff in certain cases, often involving willful violations of the law.

Antitrust Suit

Legal actions taken against individuals or organizations to prevent unfair competition, monopoly practices, and to promote market fairness and consumer welfare.

Sherman Act

A United States antitrust law passed in 1890 that outlaws monopolistic business practices.

Conspiracy

Conspiracy is an agreement between two or more persons to commit an illegal act or to accomplish a legal end through illegal means.