Tennessee Real Estate Exam Practice Question
An executed contract is best described as one for which
Correct Answer: B
Rationale: An executed contract is best described as one where all obligations have been performed, meaning both parties have fulfilled their commitments. This completion signifies that the contract is no longer active and all terms have been satisfied.
Option A, recording the title, relates to property transactions but does not indicate the fulfillment of contract terms. Option C, acknowledging a deed, pertains to the formal recognition of a document rather than the execution of a contract. Option D, approval by the probate court, is specific to estate matters and does not apply to the general concept of contract execution.
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