A Florida licensee prepares a sales contract for a residential property. The buyer signs the contract and includes an earnest money deposit check. The seller reviews the contract, crosses out the closing date, writes in a new date 30 days later, initials the change, and signs the contract. What is the legal status of this transaction?
Correct Answer
B) The seller made a counteroffer that the buyer must accept or reject
Correct: B - When the seller makes material changes to the contract terms (such as the closing date) and signs it, this constitutes a counteroffer that must be accepted or rejected by the buyer. Why not A: A binding contract requires mutual assent to all terms; the seller's changes created new terms. Why not C: The contract is not void; it's a valid counteroffer. Why not D: There is no automatic acceptance period in Florida real estate contracts.
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