Choose the One Most Appropriate Answer for Each

question 12

Multiple Choice

Choose the one most appropriate answer for each.
-expresses a mutual intention to buy, sell, lease, develop, or invest without creating any firm obligation

• A)"as is"
• B)bill of sale
• C)binder
• D)closing date
• E)delayed exchange
• F)dry rot
• G)earnest money deposit
• H)equitable title
• I)installment contract
• J)lease-option
• K)letter of intent
• L)loan commitment
• M)optionee
• N)option fee
• O)prorating
• P)purchase contract
• Q)qualified intermediary
• R)right of first refusal
• S)"time is of the essence"
• T)vendee

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Definitions:

Inaccurate

Not correct, precise, or true; containing errors or mistakes.

Decay Theory

The hypothesis that memory fades and disappears over time if not used or revisited.

Interference

A phenomenon in which the learning of new information hampers the ability to recall previously learned information.

Repression

A defense mechanism where undesirable thoughts, memories, or desires are unconsciously pushed out of conscious awareness.