Alabama Real Estate Practice Exam

Question: 1 / 400

What is a binder in the context of sales contracts?

A folder to keep documents

A preview of contract terms

Lists key terms of acceptance

A folder to keep documents is incorrect because a binder in the context of sales contracts does not refer to a physical folder used to keep documents organized.

A preview of contract terms is incorrect because a binder is not a preview, but rather a document that outlines the full contract terms.

A booklet of the property's images is incorrect because a binder in the context of sales contracts does not contain images of the property. It is a document that outlines the key terms of acceptance between the buyer and seller.

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A booklet of the property's images

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