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salma plans to purchase a new maserati. she will be borrowing the money from her bank. salma signs the contract at 8:00 p.m. at the dealership, and her bank will not be open until 10:00 a.m. the following day. which of the following statements is true of this scenario? a. salma has a contract regardless of whether the bank approves her loan. b. salma has made a conditional acceptance and has no contract. c. salma will be excused from her contract if the bank does not approve her loan. d. salma will have to pay for the car regardless of the loan.

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Final answer:

Salma has a contract with the dealership for the purchase of a Maserati once she signs it, regardless of the bank loan approval, unless there is a specific financing contingency clause in the agreement.

The correct statement related to this scenario is option A: Salma has a contract regardless of whether the bank approves her loan.

Step-by-step explanation:

The scenario described involves a situation where Salma is purchasing a new Maserati and plans to borrow money from her bank. The correct statement related to this scenario is option A: Salma has a contract regardless of whether the bank approves her loan. Once Salma signs the contract at the dealership, she is obligated to fulfill the terms of the contract, which includes paying for the car. The dealership and Salma have entered into an agreement, and the lender's decision does not alter this contract.

However, many contracts include a financing contingency clause, which means that the contract may not be binding if financing cannot be secured. Without additional details specifying that the contract was contingent on loan approval, the most accurate answer is that Salma has entered into a binding contract. Option B suggests that she has made a conditional acceptance, implying the contract is contingent on loan approval, but without evidence of that, this option is less likely. Option C suggests that she would be excused if the bank doesn't approve the loan, but this would only be true if there was a financing clause. Option D is incorrect as it omits the possibility of any contingencies that might be written into the contract.

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