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!

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What does it mean if a contract is executed?

The contract has been signed but not yet fulfilled
The terms and conditions of the contract have been fully fulfilled
The contract has been terminated
The contract is pending legal review

The correct answer is: The terms and conditions of the contract have been fully fulfilled

When a contract is executed, it means that the terms and conditions of the contract have been fully fulfilled. This means that all parties involved have completed their obligations as outlined in the contract and it has been successfully carried out. This is different from option A, which states that the contract has been signed but not yet fulfilled. Option C, the contract being terminated, means that the agreement has been ended before being fulfilled. Option D, pending legal review, means that the contract is still being reviewed and has not been finalized or put into action yet.