LAW OF CONTRACTS CHAMPIONS SCHOOL OF REAL ESTATE | 75
COMPLETE AND GRADED QUESTIONS AND ANSWERS 2026 LATEST
UPDATED | 100% GRADED CORRECT | 100% GUARANTEED TO PASS |
GET A+
TERLA - (answer)- Texas Real Estate License Act
- Created in 1939
TREC - (answer)- Texas Real Estate Commission
- Created in 1949 to administer/enforce TERLA
Real Estate Center - (answer)- Located at Texas A&M University
- Created in 1970
TREC-Promulgated Forms/Leases (Residential): - (answer)- One-to-Four Family Residential
Contract (Resale)
,- New Home Contract (Completed Construction)
- Residential Condo Contract (Resale)
- New Home Contract (Incomplete Construction)
- Unimproved Property Contract
- Farm and Ranch
(Note: TREC has promulgated contract addenda and other forms, listed on Thepage 18)
Four categories of unlawful trade practices are: - (answer)1 - Misleading or deceptive conduct
employed by any person that was relied upon by the consumer to the consumer's detriment
2 - Breach of express or implied warranties
3 - Violation of the Texas Insurance Code (Chpt 51)
, 4 - An unconscionable action or course of action by any person
Physical Characteristics of Land - (answer)- Indestructibility: cannot be destroyed
- Immobility: cannot be moved
- Non-homogeneity: no two parcels are the same
Economic Characteristics of Land - (answer)- Scarcity: supply and demand
- Modification: value is affected by man made changes
- Fixity: additions take long periods of time to pay
- Situs: location, location, location
Which of the following is a requirement for the Texas real estate sales agent license? - (answer)1
- College Degree
2 - 30 hours of Real Estate Principles only
COMPLETE AND GRADED QUESTIONS AND ANSWERS 2026 LATEST
UPDATED | 100% GRADED CORRECT | 100% GUARANTEED TO PASS |
GET A+
TERLA - (answer)- Texas Real Estate License Act
- Created in 1939
TREC - (answer)- Texas Real Estate Commission
- Created in 1949 to administer/enforce TERLA
Real Estate Center - (answer)- Located at Texas A&M University
- Created in 1970
TREC-Promulgated Forms/Leases (Residential): - (answer)- One-to-Four Family Residential
Contract (Resale)
,- New Home Contract (Completed Construction)
- Residential Condo Contract (Resale)
- New Home Contract (Incomplete Construction)
- Unimproved Property Contract
- Farm and Ranch
(Note: TREC has promulgated contract addenda and other forms, listed on Thepage 18)
Four categories of unlawful trade practices are: - (answer)1 - Misleading or deceptive conduct
employed by any person that was relied upon by the consumer to the consumer's detriment
2 - Breach of express or implied warranties
3 - Violation of the Texas Insurance Code (Chpt 51)
, 4 - An unconscionable action or course of action by any person
Physical Characteristics of Land - (answer)- Indestructibility: cannot be destroyed
- Immobility: cannot be moved
- Non-homogeneity: no two parcels are the same
Economic Characteristics of Land - (answer)- Scarcity: supply and demand
- Modification: value is affected by man made changes
- Fixity: additions take long periods of time to pay
- Situs: location, location, location
Which of the following is a requirement for the Texas real estate sales agent license? - (answer)1
- College Degree
2 - 30 hours of Real Estate Principles only
