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In Texas, when does a real estate contract become binding?
Correct Answer
C) When both parties have signed and one party has communicated acceptance
A contract becomes binding when both parties sign and acceptance is communicated (the effective date).
Answer Options
A
When the buyer signsB
When the seller signsC
When both parties have signed and one party has communicated acceptanceD
When earnest money is depositedVideo Explanation3 min
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Related Topics & Key Terms
Related Topics:
offer-and-acceptance-contractsstatute-of-frauds-real-estatemutual-assent-contracts
Key Terms:
effective datecontract formationmutual assentTREC contractcommunicated acceptance
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