ContractsAttorney Review PeriodMEDIUM
A residential purchase contract in Illinois is signed on Monday at 3:00 PM. The buyer's attorney receives the contract on Wednesday at 10:00 AM. When does the attorney review period expire for the buyer?
Correct Answer
C) Monday at 5:00 PM
The attorney review period is 3 business days from receipt of the contract. Starting Wednesday (day 1), Thursday (day 2), Friday (day 3), the period expires at 5:00 PM on the third business day, which is Monday.
Answer Options
A
Friday at 5:00 PMB
Saturday at 10:00 AMC
Monday at 5:00 PMD
Wednesday at 5:00 PMWhy This Is the Correct Answer
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Why the Other Options Are Wrong
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Deep Analysis of This Contracts Question
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Background Knowledge for Contracts
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Real World Application in Contracts
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Related Topics & Key Terms
Key Terms:
attorney_reviewbusiness_dayscontract_timing
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