For the Alaska salesperson state portion, a licensee receives another written bona fide offer before the seller accepts a different offer in writing. Which statement is correct?
Correct Answer
B) The licensee must submit all written bona fide offers received before the seller accepts another offer in writing when the broker knows of the acceptance
12 AAC 64.130(13) makes failure to submit all written bona fide offers in the stated timing grounds for discipline. Source basis: Alaska DCCED Real Estate Commission RECregulations.pdf: cited rules include 12 AAC 64.117, 64.118, 64.119, 64.130, 64.140, and 64.550; checked 2026-04-30.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A bilateral contract is an agreement in which both parties exchange promises and are both obligated to perform, while a unilateral contract is one in which only one party makes a promise and the other party is not obligated to act.
A breach of contract occurs when one party fails to perform their obligations under the contract without a legal excuse. The non-breaching party is entitled to legal remedies including damages, specific performance, or contract rescission.
Consideration is something of value exchanged between parties to a contract, making the agreement legally binding. It can be money, a promise to act, a promise to refrain from acting, or anything else of value.
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