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Illinois Real Estate Exam

Category - Real Estate

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An offer by one of the parties to a real estate transaction to carry out that party’s part of the contract is called a:

Gratuity
Satisfaction
Recourse
Tender

Explanation

Answer: D. Usually made at the conclusion of the transaction, the tender is the offer to perform on the terms agreed to. If the other party cannot perform, then the party that made the tender can rightfully claim the other party defaulted.

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Illinois Real Estate Exam

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