According to the Mirror Image Rule, _____

question 50

Multiple Choice

According to the mirror image rule, _____.

• A) the acceptance must exactly match the offer
• B) to be enforceable, a contract must be accepted in writing by both the parties involved
• C) the acceptance of an offer involves changing the terms of offer or adding new terms
• D) terms of contract must be definite to be clear and enforceable
• E) the contract becomes enforceable by performing a requested act, not by making a promise

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Definitions:

Assumes the Mortgage

Refers to when a person takes over the obligations of a mortgage from the original borrower under the terms of the original loan.

Fee Simple

The most complete ownership interest one can hold in real property, with the freedom to use it, sell it, or bequeath it, under the laws of the jurisdiction.

Financial Difficulties

Financial difficulties are situations where an individual or entity is unable to meet financial obligations due to lack of resources, impacting their economic stability.

Residential Property

Property designated for living purposes, such as houses, apartments, condos, and other dwellings where individuals or families reside.