Choose the One Most Appropriate Answer for Each

Choose the one most appropriate answer for each.
-a phrase meaning that all parties to a contract are expected to perform on time as a condition of the contract

A) "as is"
B) bill of sale
C) binder
D) closing date
E) delayed exchange
F) dry rot
G) earnest money deposit
H) equitable title
I) installment contract
J) lease-option
K) letter of intent
L) loan commitment
M) optionee
N) option fee
O) prorating
P) purchase contract
Q) qualified intermediary
R) right of first refusal
S) "time is of the essence"
T) vendee

Correct Answer:

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