What information is typically recorded in a memorandum of exchange?

• A. The price and the parties' lawyers' details only
• B. The deposit amount and the completion date only
• C. The parties to the conversation and the exchange arrangements, including completion date and deposit
• D. The surveyor's report only

Answer: (C)

The key idea is that the memorandum of exchange records who is involved in the deal and the essential terms that bind the contract when contracts are exchanged. It serves as the formal record of what has been agreed and who is bound by it, with the completion date and the deposit being central terms that set the timing and the financial commitment.

This is why the best answer is the one that lists the parties to the conversation and the exchange arrangements, including completion date and deposit. It captures who is entering into the contract and the core conditions that will govern the transaction. The memorandum is not about a surveyor’s report, and it isn’t limited to only the deposit and completion date without identifying the parties and the arrangement. In practice, while price may also appear, the essential function is to document who is involved and the key terms that create the binding agreement and direct completion.