Buyer Makes a Written Bonafide Offer to Purchase, and Seller

question 1

Multiple Choice

Buyer makes a written bonafide offer to purchase, and seller signs the acceptance. A contract is first created:

• A) when buyer receives proper communication of seller's acceptance
• B) immediately upon seller's acceptance
• C) when the buyer and seller sign escrow instructions
• D) when the broker presents the offer to the seller

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Definitions:

President Trump

The 45th President of the United States, Donald J. Trump, who served from January 20, 2017, to January 20, 2021.

501(c)(3)

A section of the U.S. Internal Revenue Code that provides a tax-exempt status to nonprofit organizations that are charitable, religious, educational, scientific, or literary in nature.

501(c)(4) Organizations

Nonprofit groups recognized under the U.S. tax code as "social welfare" organizations, permitted to engage in advocacy and lobbying efforts to a certain extent.

Benefit Corporations

A type of for-profit corporate entity, legislated in many U.S. states, that includes positive impact on society, workers, the community, and the environment in addition to profit as its legally defined goals.