American_Bankers_Association
CTFA · Question #188
It is an agreement to purchase an automobile that states the offering price and all conditions of the offer; when signed by the buyer and seller, the contract legally binds them to its terms.
The correct answer is B. Sales Contract. See the full explanation below for the reasoning.
Fiduciary and Trust Activities
Question
It is an agreement to purchase an automobile that states the offering price and all conditions of the offer; when signed by the buyer and seller, the contract legally binds them to its terms.
Options
- AFinancing Contract
- BSales Contract
- CCar Financing Agreement
- DDealer's Agreement
How the community answered
(26 responses)- B85% (22)
- C12% (3)
- D4% (1)
Topics
#sales contract#automobile purchase#binding agreement#consumer finance
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