Which of the following is true regarding the liability in tort of employers for the actions of employees and independent contractors?
Which of the following is true regarding the tort liability of employers for the actions of their employees and independent contractors? Employers are generally liable in tort for the actions of their employees, while they are generally not liable for the actions of independent contractors.
Which of the following is true regarding any right of reimbursement Paolo is due from Joe?
Which of the following is true regarding any right of reimbursement Paolo is due from Joe? Paolo is entitled to reimbursement from Joe. Melanie will win because as the principal, she has right of first refusal.
Which of the following is true regarding a principal’s duty to pay unemployment taxes?
Which of the following is true regarding a principal’s duty to pay unemployment taxes? A principal must pay unemployment taxes for an employee buy not for an independent contractor.
Who is an earnest money check made out to?
The deposit should be payable to a reputable third party, such as a well-known real estate brokerage, escrow company, title company, or legal firm (never give the deposit directly to the seller). Buyers should verify the funds will be held in an escrow account and always obtain a receipt.
What is the difference between earnest money and option money?
The earnest money is made payable to a title company (another term negotiated between buyers and sellers) and deposited into an escrow account at the title company. The option money is provided to the seller. Upon closing on the purchase of the house, the option money is typically provided as a credit to the buyer.
Who can Receipt Option money?
A: The seller or listing representative/broker receipts this section of the contract. It is not receipted by anyone else in the transaction. Q: Can option money be delivered to the title company?
What is a 10 day option?
An Option Period is written into a real estate contract to give a buyer a specified number of days in which they can terminate the contract and be refunded their earnest money deposit. According to HAR.com the Texas Real Estate Option Period typically lasts from 1 to 10 days.
What happens when the option period ends?
If the buyer simply changes their mind during the option period, all they lose is their option fee. If they change their mind later than that, they should lose their earnest money unless they find a valid excuse in the contract for terminating. There is nothing a seller can do keep a buyer from changing their mind.
Can I back out after option period?
The Option Period is negotiable, but should be long enough to allow the property to be inspected and to negotiate repairs. The Option Period MUST be delivered to the seller within 3 days after the effective date of the contract or you will lose your right to back out during the Option Period.
How long is an option to purchase valid?
14 days