Certified Apartment Manager (CAM) Practice Test

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Prepare for the Certified Apartment Manager exam with our comprehensive test. Featuring flashcards and multiple-choice questions, each crafted with hints and explanations to ensure you are thoroughly ready for your certification!

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Which of the following is a valid reason for terminating a contract offer?

The person making the offer withdraws it
The parties agree on the terms
The offer is accepted without changes
The contract is drafted incorrectly

The correct answer is: The person making the offer withdraws it

A valid reason for terminating a contract offer is when the person making the offer decides to withdraw it. This withdrawal can occur at any point before the offer is accepted, as long as the offeree has not yet communicated acceptance. The party making the offer holds the right to change their mind regarding the offer, which signifies the importance of the offeror's intention in contract law. In contrast, the other options represent different scenarios regarding contracts. When the parties agree on terms, it indicates that negotiations have been successful and typically leads to the creation of a valid contract rather than the termination of the offer. Acceptance of the offer without changes results in a binding agreement, thus marking the completion of the offer instead of its termination. Lastly, if a contract is drafted incorrectly, it might warrant a renegotiation or modification, but it does not by itself invalidate the offer; rather, it could result in amendments or a mutual understanding to correct the issues.