Question 39

The sale contracts are executed.

The contracts for both the listing and sale of the property are executed, meaning that the agreements have been signed and are in effect, regardless of the heir's upcoming legal age milestone.

A) with closing to be in 45 days. Both listing and sale contracts are

This option is incomplete and does not accurately describe the legal status of the contracts. While it mentions the closing timeframe, it fails to address the execution of the contracts themselves.

B) fulfilled.

This option is incorrect because "fulfilled" implies that all terms of the contract have been completed. In this scenario, the contracts have been executed, but the sale has not yet been finalized, so the contracts are not fulfilled.

C) executed.

This option is correct as it indicates that the contracts for the listing and sale have been signed and are legally binding. The execution of the contracts is valid even though the heir will reach legal age soon, as the broker acted in accordance with the authority given to them.

D) voidable.

This option is incorrect because "voidable" suggests that the contracts could be invalidated due to the heir's age situation. However, since the contracts were executed properly, they remain valid unless the heir chooses to void them after reaching legal age.

E) executory.

This option is incorrect as it refers to contracts that have not yet been completed. While the sale is pending, the contracts themselves have been executed and are in effect, making this option misleading.

Conclusion

The correct answer, "executed," accurately reflects the status of the contracts that have been signed and are legally binding. All other options fail because they either misrepresent the current state of the contracts or do not apply correctly to the scenario presented.