Chapter 10 Multiple choice questions

When exchange of contracts occurs by telephone formula C which of the following is not a Law Society requirement?

That the conveyancer ensures that he or she has the client's express authority to exchange contracts using formula C.

That the conveyancer expecting to be telephoned back later in the day should give the name of other conveyancers in the office who could take the call if the first solicitor is otherwise engaged.

That there must be no more than ten properties in the chain.

That file memos should be made by each conveyancer recording the details of the telephone conversations constituting parts 1 and 2 of formula C.

A buyer who receives notice of bankruptcy proceedings against the seller after exchange of contracts should insist on taking a transfer of the property from which of the following?

The bankruptcy court.

The seller.

The petitioning creditor.

The trustee in bankruptcy.

Assuming that the Standard Commercial Conditions of Sale are being adopted, at what point does a contract for the sale of freehold factory premises become legally binding when contracts are exchanged by post?

When the first contract is posted.

When the first contract is received.

When the second contract is posted.

When the second contract is received.

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