Tennessee Real Estate License Exam Practice Question
An executed contract is best described as one for which
Correct Answer: B
Rationale: An executed contract is one where all parties have fulfilled their obligations, resulting in a completed agreement. Option B accurately reflects this definition, indicating that the contract's terms have been fully satisfied.
Option A, regarding title recording, pertains to property transactions but does not define contract execution. Option C refers to the acknowledgment of a deed, which is a specific legal process, not a general contract execution. Option D involves probate court approval, relevant to wills and estates but unrelated to the execution of contracts. Thus, only option B captures the essence of an executed contract.
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