Florida Real Estate Practice Exam

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Prepare for your Florida Real Estate Exam with a comprehensive quiz featuring multiple-choice questions, hints, and detailed explanations. Gain the confidence you need to succeed in obtaining your real estate license!

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What was the status of the contract when Ken and Debra entered into it?

Executed
Illegal
Void
Voidable

The correct answer is: Voidable

When Ken and Debra entered into the contract, it was voidable. This means that there was no legal impediment preventing the contract from being formed, but there was a possibility that the contract could be canceled due to factors such as lack of legal capacity or lack of genuine consent. Option A, executed, would mean that the contract has been fully performed and is no longer in effect. Option B, illegal, would mean that the contract was formed in violation of the law and is therefore unenforceable. Option C, void, would mean that the contract never had any legal effect and is treated as if it never existed. Therefore, option D, voidable, is the correct answer as it best describes the status of the contract when Ken and Debra entered into it.