buyer working with QRS Realty wants to make an offer on a property. To save time, the buyer makes a verbal offer of $210,000 and the seller agrees. The offer is: -invalid because it does not include a closing date -unenforceable because it is not in writing

buyer working with QRS Realty wants to make an offer on a property. To save time, the buyer makes a verbal offer of $210,000 and the seller agrees. The offer is: -invalid because it does not include a closing date -unenforceable because it is not in writing

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter4: Balance Sheet: Presenting And Analyzing Resources And Financing

Section: Chapter Questions

Problem 9Q

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Question

A buyer working with QRS Realty wants to make an offer on a property. To save time, the buyer makes a verbal offer of $210,000 and the seller agrees. The offer is:

-invalid because it does not include a closing date

-unenforceable because it is not in writing

-voidable because the licensee did not review the offer

-unilateral because the contract is not exclusive

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