In a Contract for the Sale of Land,how Close Must

question 18

Multiple Choice

In a contract for the sale of land,how close must the terms of the acceptance be to the terms of the offer,in order to form a contract?

• A) They must be identical or almost identical.
• B) They must agree on the major terms of the transaction.
• C) They must indicate a definite intent to form a contract.
• D) They must be identical only with regard to the price quoted.

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Definitions:

Schedule/Form

Documents filed with or attached to a tax return, providing additional information, calculations, or reports to the IRS.

Published

Made available to the public through print or electronic media.

Business Revenue

The total amount of income generated by a company from its activities, such as sales of products or services, before any expenses are subtracted.

Schedule E

A form used for reporting income from rental real estate, royalties, partnerships, S corporations, estates, trusts, and residual interests in REMICs on a tax return.