California Real Estate Practice Exam 2025 – The All-in-One Resource to Ace Your Licensing Exam!

Question: 1 / 585

To "rescind" is the same as to:

Resale

Revise

Revoke

To "rescind" means to revoke or cancel a contract or agreement. When a party rescinds a contract, it nullifies the agreement and restores the parties involved to their positions prior to the contract's formation. This is often done to correct a mistake or when one party has not fulfilled their obligations under the contract.

The term is particularly relevant in real estate transactions where buyers or sellers may wish to back out of a deal for various legitimate reasons, such as discovering undisclosed issues with the property or a change in circumstance that impacts the agreement. Thus, in the context of this question, rescinding aligns directly with the idea of revoking—meaning to take back or undo an agreement that was previously made.

Get further explanation with Examzify DeepDiveBeta

Transfer

Next Question

Report this question

Download California Real Estate Practice Exam PDF Study Guide
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy