Under New Hampshire contract law and practice, which of the following is NOT a recognized method by which an offer to purchase real property can be terminated before a binding contract is formed?
Correct Answer
D) The listing agent verbally informs the buyer that the seller is 'very interested' in the offer
A listing agent verbally expressing that the seller is 'very interested' in an offer does not constitute acceptance and does not terminate the offer. It is merely an expression of interest, not a legal act that affects the offer's status. Offers are terminated by revocation, rejection, counteroffer, lapse of time, or death/incapacity of a party — not by informal expressions of enthusiasm from the other side.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A counteroffer is a response to an original offer that changes one or more terms of the offer, effectively rejecting the original offer and creating a new offer. The party who makes the counteroffer becomes the new offeror.
Earnest money is a deposit made by the buyer at the time of the offer or shortly after to demonstrate good faith and serious intent to purchase the property. It is also called a good faith deposit.
Equitable title is the buyer's interest in a property after a purchase contract is signed but before closing, giving the buyer the right to acquire legal title in the future. The seller retains legal title until the deed is delivered at closing.
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