Arizona Contract Writing Flash Cards Questions With
Complete Solutions
A contract missing one or more of the essential elements of a
valid contract is, Correct Answers void
A contract shorthand used to describe a longer description is to
put a key word in Correct Answers parentheses and quotation
marks
A contract that has not been fully preformed is called what type
of contract, Correct Answers Executory
A formal contract is one which has been Correct Answers
signed, sealed, and delivered
A key factor in successful dispute resolution is Correct Answers
motivation of the buyer to buy and the seller to sell
A new licensee must take the contract writing course before
activating their license and must do so within _________ of
passing the state exam. Correct Answers 1 year
A transaction fails to close due to missing a deadline specified in
the purchase contract. The contract is Correct Answers
breached
According to Arizona rules and regulations, who is responsible
for the supervision of all contract preparation, accuracy, and
maintenance? Correct Answers Designated brokers
, All-cash purchase offers must include Correct Answers the
source of the cash or financial institution guarantee
Allen vs. Martin revealed that when escrow instructions and
contracts conflict, Correct Answers The contract prevails
An acceptable, effective listing agreement will include Correct
Answers disposition of personal property
An example of a breach of a purchase contract is Correct
Answers Failure to close without a legal excuse.
An example of good consideration is Correct Answers real
property as a gift
An involuntary forcing of someone into a contract means the
signer Correct Answers is under duress and thus does not have
a meeting of the minds
Arizona licensing laws may require any licensee acting as a
designated broker, temporary designated broker, self-employed
broker, and sole proprietor broker to take Correct Answers
three, 3-hour classes in broker management clinics
Arizona real estate contract writers generally include Correct
Answers the name of the title/escrow company to handle the
transaction
Article 26 came about as a result of a referendum on a law
passed by the Correct Answers Arizona legislature
Complete Solutions
A contract missing one or more of the essential elements of a
valid contract is, Correct Answers void
A contract shorthand used to describe a longer description is to
put a key word in Correct Answers parentheses and quotation
marks
A contract that has not been fully preformed is called what type
of contract, Correct Answers Executory
A formal contract is one which has been Correct Answers
signed, sealed, and delivered
A key factor in successful dispute resolution is Correct Answers
motivation of the buyer to buy and the seller to sell
A new licensee must take the contract writing course before
activating their license and must do so within _________ of
passing the state exam. Correct Answers 1 year
A transaction fails to close due to missing a deadline specified in
the purchase contract. The contract is Correct Answers
breached
According to Arizona rules and regulations, who is responsible
for the supervision of all contract preparation, accuracy, and
maintenance? Correct Answers Designated brokers
, All-cash purchase offers must include Correct Answers the
source of the cash or financial institution guarantee
Allen vs. Martin revealed that when escrow instructions and
contracts conflict, Correct Answers The contract prevails
An acceptable, effective listing agreement will include Correct
Answers disposition of personal property
An example of a breach of a purchase contract is Correct
Answers Failure to close without a legal excuse.
An example of good consideration is Correct Answers real
property as a gift
An involuntary forcing of someone into a contract means the
signer Correct Answers is under duress and thus does not have
a meeting of the minds
Arizona licensing laws may require any licensee acting as a
designated broker, temporary designated broker, self-employed
broker, and sole proprietor broker to take Correct Answers
three, 3-hour classes in broker management clinics
Arizona real estate contract writers generally include Correct
Answers the name of the title/escrow company to handle the
transaction
Article 26 came about as a result of a referendum on a law
passed by the Correct Answers Arizona legislature
