In some cases, third persons, such as third party beneficiaries or assignees, have rights on a contract

A person who acquired ownership that can be inherited, with the provision that the land must always be used for recreational purposes, has which of the following?

A) A fee simple estate B) A fee estate subject to condition subsequent C) A restricted estate D) An estate that cannot be sold

A rescission form contains an extender Clause. What is the purpose of this Clause?

A. To notify a subsequent buyer that the first sale has failed B. To request that a buyer waive a contingency or the transaction will terminate C. To guarantee that the listing agent will receive a commission if the parties complete the transaction within and number of months after the termination date D. To create a cooling-off period in which the parties May revive the transaction before it terminates permanently