Law of Contract Final Exam Newest 2026 Questions
and Correct Detailed Answers Already Graded A+
If a party to the contract defaults, what option(s) does the non-defaulting
have?
A) Terminate the contract and receive the earnest money
B) Enforce specific performance
C) Both A and B
D) Either A or B - CORRECT ANSWER-D) Either A or B
wrong C) Both A and B
The inheritance of an ancestor's property according to the laws of Descent
and Distribution.
A) Adverse possession
B) Escheat
C) Short sale
D) Intestate succession - CORRECT ANSWER-D) Intestate succession
The owner agrees to list the property with only one broker, however,
reserves the right to sell the property themselves. This is what kind of
listing?
A) Exclusive right to sell
,B) Exclusive agency
C) Open
D) Net - CORRECT ANSWER-B) Exclusive agency
An individual dies intestate and without heirs.
A) Adverse possession
B) Police power
C) Eminent domain
D) Escheat - CORRECT ANSWER-D) Escheat
Zoning laws are allowed due to:
A) Eminent domain
B) Condemnation
C) Police powers
D) Escheat - CORRECT ANSWER-C) Police powers
This generally refers to a governmental entity's legal authority to force a
private landowner to sell his or her real property for public use.
A) Condemnation
B) Taxation
C) Police power
D) Eminent domain - CORRECT ANSWER-D) Eminent domain
, Precedents are determined by:
A) Statutory Law
B) Case law
C) TRELA
D) DTPA - CORRECT ANSWER-Wrong A) Statutory Law?
This estate may be terminated at will of either party. It has no duration
limitation.
A) Estate at will
B) Estate from period to period
C) Estate for years
D) Freehold estate - CORRECT ANSWER-A) Estate at will?
A form of shared property ownership in which rights vest in several owners
for a specified period each year.
A) Cooperatives
B) Time shares
C) Townhomes
D) Condominiums - CORRECT ANSWER-B) Time shares
The law that established the Texas Real Estate Commission.
A) TREC
B) TRELA
and Correct Detailed Answers Already Graded A+
If a party to the contract defaults, what option(s) does the non-defaulting
have?
A) Terminate the contract and receive the earnest money
B) Enforce specific performance
C) Both A and B
D) Either A or B - CORRECT ANSWER-D) Either A or B
wrong C) Both A and B
The inheritance of an ancestor's property according to the laws of Descent
and Distribution.
A) Adverse possession
B) Escheat
C) Short sale
D) Intestate succession - CORRECT ANSWER-D) Intestate succession
The owner agrees to list the property with only one broker, however,
reserves the right to sell the property themselves. This is what kind of
listing?
A) Exclusive right to sell
,B) Exclusive agency
C) Open
D) Net - CORRECT ANSWER-B) Exclusive agency
An individual dies intestate and without heirs.
A) Adverse possession
B) Police power
C) Eminent domain
D) Escheat - CORRECT ANSWER-D) Escheat
Zoning laws are allowed due to:
A) Eminent domain
B) Condemnation
C) Police powers
D) Escheat - CORRECT ANSWER-C) Police powers
This generally refers to a governmental entity's legal authority to force a
private landowner to sell his or her real property for public use.
A) Condemnation
B) Taxation
C) Police power
D) Eminent domain - CORRECT ANSWER-D) Eminent domain
, Precedents are determined by:
A) Statutory Law
B) Case law
C) TRELA
D) DTPA - CORRECT ANSWER-Wrong A) Statutory Law?
This estate may be terminated at will of either party. It has no duration
limitation.
A) Estate at will
B) Estate from period to period
C) Estate for years
D) Freehold estate - CORRECT ANSWER-A) Estate at will?
A form of shared property ownership in which rights vest in several owners
for a specified period each year.
A) Cooperatives
B) Time shares
C) Townhomes
D) Condominiums - CORRECT ANSWER-B) Time shares
The law that established the Texas Real Estate Commission.
A) TREC
B) TRELA
