New Jersey Real Estate License Exam Practice Question
What is required to establish mutual assent?
Correct Answer: A
Rationale: Establishing mutual assent requires a "meeting of the minds," where both parties understand and agree to the terms of the contract. This ensures that all parties share a common understanding of their obligations.
Option B, rejection of an offer, disrupts mutual assent, as it indicates a lack of agreement. Option C, offer and counteroffer, can lead to negotiations but does not signify mutual assent until both parties agree on the final terms. Option D, an offer that meets the listing price, may facilitate agreement but does not guarantee that both parties have fully understood and accepted the terms, which is essential for mutual assent.
Unlock All Questions
Subscribe to Premium for full access to all practice questions, detailed rationales, and performance tracking.
Subscribe Now