The real estate binder must satisfy the requirements of general contract law. It must also satisfy the statute of frauds and be signed by the party to be bound. The binder A. Transfers title to, and possession of, the real property. B. Is usually prepared by the seller's broker along with the deed and other closing documents. C. Determines when the seller must compensate the broker. D. Should contain a description of the property, the kind of deed, a provision for title assurance, and the mode of financing By way of a gift, Pat executed a deed naming her son Mike as grantee. The deed contained a description as follows: All that part of my farm, being a square with 200 -foot sides, the southeast corner of which is in the north line of my neighbor, John Brown. The deed contained covenants of general warranty, quiet enjoyment, and right to convey. Pat handed the deed to Mike, who immediately returned it to his mother for safekeeping. Pat kept it in a safe-deposit box. The deed was not recorded. The description of part of Pat's farm A. Is insufficient because of vagueness. B. Is sufficient because no ambiguity therein appears on the face of the deed. C. Could be enforced if the deed contained a covenant of seisin. D. Is sufficient if consideration has been paid