Question

The absence of which of the following would render an earnest money agreement unenforceable?

a. Legal description of the property without the street address
b. Legal purpose
c. Earnest money deposit
d. Time period for seller's acceptance

Answer 1

The absence of legal purpose would make an earnest money agreement unenforceable.

Step-by-step explanation:

The absence of legal purpose would render an earnest money agreement unenforceable.

An earnest money agreement is a legally binding contract that involves a deposit made by the buyer to show their commitment to purchasing the property. For the agreement to be enforceable, it must have a legal purpose. This means that the agreement must be for a lawful transaction, such as the purchase of real estate.

If an earnest money agreement lacks a legal purpose, it would be considered void and unenforceable by the courts.