$7$:$53$

Jerry's post

$-7.$ The seller has a beautiful dining room ceiling fixture that matches his entire dining room set. If the sales contract does NOT specifically state whether the fixture is included in the sale or excluded from it$,$

A$.$ excluded from the sale because it is clearly part of the seller's dining room suite of furnishings.

B$.$ Excluded from the sale if the seller takes it down himself and mends the hole in the ceiling.

C$.$ Included in the sale only if the buyer purchases the dining room furniture.

D$.$ Included in the sale because it is attached to the ceiling.

$-8.$ Under a rescission agreement, the:

contract is cancelled, and the purchaser is to default

parties are returned to their original positions, and all monies must be returned.

$3,$ seller is in default because of instability to perform.

contract is voidable by either party.

$*9.$ Seller A entered an option contract with Buyer B$.$ The contract allowed for a price of $$200,000$ with Seller A for a $12-$month period.

A$.$ Unilateral contract in which only Seller A has made a promise to perform.

B$.$ Unilateral contract in which only Buyer B has made a promise to perform.

C$.$ Bilateral contract which both parties are obliged to perform within the time period.

D$.$ Void contract

A seller listed her residence with a broker. The broker brought an offer at full price and terms of the listing agreement from a buyer who is ready, willing, and able to pay cash for the property, but the seller rejected the buyer's offer. In this situation. the seller

A$)$ must sell her property.

B$)$ owes a commission to the broker.

C$)$ is liable to the buyer for compensatory damages.

D$)$ is liable to the buyer for specific performance.

A seller's Property Disclosure form states that there are no known material defects with the property, but the listing licensee is aware of asbestos wrapped duct pipes in the basement. The licensee should

A$.$ Disclose the existence of asbestos to all potential buyers

B$.$ Ask the seller's permission to disclose and abide by the seller's wishes

C$.$ Suggest the buyers have a home inspections and leave discover up to the inspector.

D$.$ Suggest to the seller that he wrap the pipes to contain potential airborne contamination

The owner of a home with no liens obtained a home equity of $$75,000,$ months later,