PROMULGATED CONTRACTS STUDY
GUIDE 2026 ACTUAL QUESTIONS WITH
SOLUTIONS GRADED A+
● All Of The Above. Answer: A valid and enforceable contract must
include which of the following elements...?
Consideration
Mutual agreement
Competent parties
All of the above
● Addendum. Answer: Additional pages of material that are added to
and become part of a contract are referred to as a/an...?
RFP
Addendum
Amendment
Bulletin
● Performance Contract. Answer: A typical real estate sales contract
between a buyer and seller is considered a/an...?
,Unenforceable contract
Forbearance contract
Performance contract
Void contract
● In-Progress. Answer: An executory contract is...?
Void
Completed
In-progress
Unenforceable
● Amendment. Answer: A change in a legal document made by adding,
altering, or omitting a certain part or term is referred to as a/an...?
RFP
Bulletin
Amendment
Addendum
● Executed Contract. Answer: A contract that has been fully performed
is known as a/an...?
, Executory contract
Expired contract
Executed contract
Unenforceable contract
● Must Be In-Writing. Answer: John is about to enter into a contract
with Amy, to purchase Amy's house. The real estate sales contract
between John and Amy...?
May be oral
May lack consideration
Must be in-writing
May be in-writing or oral
● Consideration. Answer: Anything given or promised by a party to
induce another to enter into a contract is referred to as...?
Performance
Novation
Acknowledgement
Consideration
GUIDE 2026 ACTUAL QUESTIONS WITH
SOLUTIONS GRADED A+
● All Of The Above. Answer: A valid and enforceable contract must
include which of the following elements...?
Consideration
Mutual agreement
Competent parties
All of the above
● Addendum. Answer: Additional pages of material that are added to
and become part of a contract are referred to as a/an...?
RFP
Addendum
Amendment
Bulletin
● Performance Contract. Answer: A typical real estate sales contract
between a buyer and seller is considered a/an...?
,Unenforceable contract
Forbearance contract
Performance contract
Void contract
● In-Progress. Answer: An executory contract is...?
Void
Completed
In-progress
Unenforceable
● Amendment. Answer: A change in a legal document made by adding,
altering, or omitting a certain part or term is referred to as a/an...?
RFP
Bulletin
Amendment
Addendum
● Executed Contract. Answer: A contract that has been fully performed
is known as a/an...?
, Executory contract
Expired contract
Executed contract
Unenforceable contract
● Must Be In-Writing. Answer: John is about to enter into a contract
with Amy, to purchase Amy's house. The real estate sales contract
between John and Amy...?
May be oral
May lack consideration
Must be in-writing
May be in-writing or oral
● Consideration. Answer: Anything given or promised by a party to
induce another to enter into a contract is referred to as...?
Performance
Novation
Acknowledgement
Consideration
