New York State Notary Practice Exam

What is a legally binding agreement referred to in notary practice?

1. Contract

2. Certified copy

3. Deed

4. Conveyance

The correct answer is: Contract

In notary practice, a legally binding agreement is known as a contract. A contract represents an agreement between parties that outlines specific obligations and rights and is enforceable by law. This encompasses various types of agreements, whether written or oral, as long as the essential elements of a contract—such as offer, acceptance, consideration, and mutual consent—are present. Other terms listed do not refer to a legally binding agreement in a broad sense. A certified copy is a duplicate of a document that has been verified as accurate and true by a notary, while a deed specifically refers to a legal document that transfers ownership of property. Conversely, a conveyance is a broader legal term related to the transfer of title or property but does not universally imply an agreement between parties like a contract does.