CA Foundation Exam > CA Foundation Questions > A offers to sell his house to B, who agrees t...
Start Learning for Free
A offers to sell his house to B, who agrees to purchase it subject to approval by B’s solicitors. Which one of the statements in correct?
- a)B’s statement is absolute and unqualified.
- b)B’s statement is not absolute and unqualified.
- c)B’s statement is absolute but qualified.
- d)All the above statements are correct.
Correct answer is option 'C'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
A offers to sell his house to B, who agrees to purchase it subject to ...
B's statement is absolute but qualified
Description: In the given case, B agrees to the proposal but puts a qualification that he will purchase the house only if his solicitor approves it. Hence B's statement is absolute but qualified.
Most Upvoted Answer
A offers to sell his house to B, who agrees to purchase it subject to ...
's bank for a mortgage loan. A and B sign a purchase agreement that includes a financing contingency clause. The clause states that the sale is contingent upon B securing financing from a third-party lender within a specified time frame.
B applies for a mortgage loan from their bank and provides all the necessary documentation, including proof of income, credit history, and employment status. The bank reviews the application and verifies the information provided by B.
If the bank approves the mortgage loan, B can proceed with the purchase of the house. However, if the bank denies the loan or approves it with unfavorable terms, B can cancel the purchase agreement and receive a refund of any earnest money or deposit paid.
The financing contingency clause protects B from losing their earnest money or deposit if they are unable to secure financing for the purchase. It also protects A from wasting time on a sale that may fall through due to lack of financing.
B applies for a mortgage loan from their bank and provides all the necessary documentation, including proof of income, credit history, and employment status. The bank reviews the application and verifies the information provided by B.
If the bank approves the mortgage loan, B can proceed with the purchase of the house. However, if the bank denies the loan or approves it with unfavorable terms, B can cancel the purchase agreement and receive a refund of any earnest money or deposit paid.
The financing contingency clause protects B from losing their earnest money or deposit if they are unable to secure financing for the purchase. It also protects A from wasting time on a sale that may fall through due to lack of financing.
Free Test
FREE
| Start Free Test |
Community Answer
A offers to sell his house to B, who agrees to purchase it subject to ...
What is solicitor?
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
A offers to sell his house to B, who agrees to purchase it subject to approval by B’s solicitors. Which one of the statements in correct?a)B’s statement is absolute and unqualified.b)B’s statement is not absolute and unqualified.c)B’s statement is absolute but qualified.d)All the above statements are correct.Correct answer is option 'C'. Can you explain this answer?
Question Description
A offers to sell his house to B, who agrees to purchase it subject to approval by B’s solicitors. Which one of the statements in correct?a)B’s statement is absolute and unqualified.b)B’s statement is not absolute and unqualified.c)B’s statement is absolute but qualified.d)All the above statements are correct.Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A offers to sell his house to B, who agrees to purchase it subject to approval by B’s solicitors. Which one of the statements in correct?a)B’s statement is absolute and unqualified.b)B’s statement is not absolute and unqualified.c)B’s statement is absolute but qualified.d)All the above statements are correct.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A offers to sell his house to B, who agrees to purchase it subject to approval by B’s solicitors. Which one of the statements in correct?a)B’s statement is absolute and unqualified.b)B’s statement is not absolute and unqualified.c)B’s statement is absolute but qualified.d)All the above statements are correct.Correct answer is option 'C'. Can you explain this answer?.
A offers to sell his house to B, who agrees to purchase it subject to approval by B’s solicitors. Which one of the statements in correct?a)B’s statement is absolute and unqualified.b)B’s statement is not absolute and unqualified.c)B’s statement is absolute but qualified.d)All the above statements are correct.Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A offers to sell his house to B, who agrees to purchase it subject to approval by B’s solicitors. Which one of the statements in correct?a)B’s statement is absolute and unqualified.b)B’s statement is not absolute and unqualified.c)B’s statement is absolute but qualified.d)All the above statements are correct.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A offers to sell his house to B, who agrees to purchase it subject to approval by B’s solicitors. Which one of the statements in correct?a)B’s statement is absolute and unqualified.b)B’s statement is not absolute and unqualified.c)B’s statement is absolute but qualified.d)All the above statements are correct.Correct answer is option 'C'. Can you explain this answer?.
Solutions for A offers to sell his house to B, who agrees to purchase it subject to approval by B’s solicitors. Which one of the statements in correct?a)B’s statement is absolute and unqualified.b)B’s statement is not absolute and unqualified.c)B’s statement is absolute but qualified.d)All the above statements are correct.Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of A offers to sell his house to B, who agrees to purchase it subject to approval by B’s solicitors. Which one of the statements in correct?a)B’s statement is absolute and unqualified.b)B’s statement is not absolute and unqualified.c)B’s statement is absolute but qualified.d)All the above statements are correct.Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
A offers to sell his house to B, who agrees to purchase it subject to approval by B’s solicitors. Which one of the statements in correct?a)B’s statement is absolute and unqualified.b)B’s statement is not absolute and unqualified.c)B’s statement is absolute but qualified.d)All the above statements are correct.Correct answer is option 'C'. Can you explain this answer?, a detailed solution for A offers to sell his house to B, who agrees to purchase it subject to approval by B’s solicitors. Which one of the statements in correct?a)B’s statement is absolute and unqualified.b)B’s statement is not absolute and unqualified.c)B’s statement is absolute but qualified.d)All the above statements are correct.Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of A offers to sell his house to B, who agrees to purchase it subject to approval by B’s solicitors. Which one of the statements in correct?a)B’s statement is absolute and unqualified.b)B’s statement is not absolute and unqualified.c)B’s statement is absolute but qualified.d)All the above statements are correct.Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice A offers to sell his house to B, who agrees to purchase it subject to approval by B’s solicitors. Which one of the statements in correct?a)B’s statement is absolute and unqualified.b)B’s statement is not absolute and unqualified.c)B’s statement is absolute but qualified.d)All the above statements are correct.Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup