Under Washington contract law, which of the following events will NOT terminate an offer before acceptance?
Correct Answer
C) The offeror's broker communicates the offer to a second potential buyer.
Communicating an offer to a second potential buyer does not terminate the original offer. A seller may receive and consider multiple offers simultaneously, and the first buyer's offer remains open until it is rejected, countered, expires, or is revoked. The listing broker presenting the offer to another buyer (or the seller entertaining multiple offers) has no legal effect on the validity of the original offer — it remains outstanding until one of the recognized termination events occurs.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A time is of the essence clause in a contract means that all deadlines and dates specified in the agreement are strictly enforceable, and failure to meet them constitutes a material breach.
An appraisal contingency allows the buyer to cancel or renegotiate the contract if the property's appraised value comes in lower than the agreed-upon purchase price. This contingency protects buyers from overpaying.
An assignment of contract transfers one party's rights and obligations under a contract to a third party called the assignee. The original party, known as the assignor, transfers their contractual position to someone who was not originally part of the agreement.
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