Contracts are enforceable only against which party?

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Study for the UBC Real Estate Exam. Access flashcards and multiple choice questions with hints and explanations. Enhance your preparation and ensure success!

Multiple Choice

Contracts are enforceable only against which party?

Explanation:
Contracts create binding obligations for the person who signs the document. A signature is the clear indication of consent to the terms and promises inside, so that signer is the party legally bound by the contract. In real estate practice, the agreement binds the individual who signs—such as the buyer or the seller—based on their consent. The broker or the lender isn’t automatically bound by the contract unless they themselves sign or sign in a capacity that makes them a party to the agreement. So the enforceable party is the person signing the document.

Contracts create binding obligations for the person who signs the document. A signature is the clear indication of consent to the terms and promises inside, so that signer is the party legally bound by the contract. In real estate practice, the agreement binds the individual who signs—such as the buyer or the seller—based on their consent. The broker or the lender isn’t automatically bound by the contract unless they themselves sign or sign in a capacity that makes them a party to the agreement. So the enforceable party is the person signing the document.

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