Alabama Real Estate Practice Exam

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Prepare for the Alabama Real Estate Exam. Utilize flashcards and multiple-choice questions, each coupled with hints and explanations. Ace your upcoming test!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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What defines a unilateral contract?

Both parties promise to perform an action
It involves a promise in exchange for performing a specific action
It must involve real estate transactions
It is always between three or more parties

The correct answer is: It involves a promise in exchange for performing a specific action

A unilateral contract is a type of contract where only one party makes a promise in exchange for the other party's performance of a specific action. Option A is incorrect because both parties do not necessarily make a promise. Option C is incorrect because a unilateral contract does not have to involve real estate transactions. Option D is incorrect because a unilateral contract can be between two parties.