Real Estate: Promulgated Contract Forms - Course Exam
- Champion School of RE Texas || Most Recent Exam Actual
Complete Real Exam Questions And Correct Answers
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A Void Contract is ______ from the beginning and does not affect the parties.
IE: the party was drunk.
pg.11
ANSWERS: invalid
A Voidable Contract ______ be enforced against one or more of the parties.
IE: a minor tried to sign; 17 years
old. pg.11
ANSWERS: cannot
_ _______is defined as the exchange of promises.
IE: love and affection
pg.12
ANSWERS: Consideration
,_ _______does not need to be monetary.
IE: love and
affection. IE: NOT
earnest money
pg.12
ANSWERS: Consideration
_ _______is not one of the requirements for a valid contract nor consideration.
pg.12
ANSWERS: Earnest Money
_ _______is the effective date of the contract to closing.
pg.13
ANSWERS: Executory Period.
Changes to the closing date is an example of an __ _.
pg.14
ANSWERS: amendment
,Changes to the sale price, down payment, and/or amount finances, is an
example of an _.
pg.14
ANSWERS: amendment
Repairs that Seller agrees to perform, is an example of an__ _.
pg.14
ANSWERS: amendment
Contracts for personal ______ are not assignable.
pg.15
ANSWERS: services
Service Contracts are not ____ _.
pg.15
ANSWERS: assignable
One party to a contract may accept the _____of the other and terminate the
contract.
pg.16
ANSWERS: partial performance
, Example: when a tenant signs a one-year lease for an apartment and moves
out
after 10 months. The landlord could accept the tenant's __ of the contract and
then terminate
it. pg.16
ANSWERS: partial performance
_ was created to draft and revise contract forms capable of standarization
for use by real estate license holders. pg.24
ANSWERS: TREC-Lawyer Committee
License holders use forms prepared and approved by a licensed Texas
attorney
for the particular transaction involved. pg.24
ANSWERS: can
- Champion School of RE Texas || Most Recent Exam Actual
Complete Real Exam Questions And Correct Answers
(Verified Answers) Already Graded A+ | Guaranteed
Success!! Brand New Exam | Just Released!!
A Void Contract is ______ from the beginning and does not affect the parties.
IE: the party was drunk.
pg.11
ANSWERS: invalid
A Voidable Contract ______ be enforced against one or more of the parties.
IE: a minor tried to sign; 17 years
old. pg.11
ANSWERS: cannot
_ _______is defined as the exchange of promises.
IE: love and affection
pg.12
ANSWERS: Consideration
,_ _______does not need to be monetary.
IE: love and
affection. IE: NOT
earnest money
pg.12
ANSWERS: Consideration
_ _______is not one of the requirements for a valid contract nor consideration.
pg.12
ANSWERS: Earnest Money
_ _______is the effective date of the contract to closing.
pg.13
ANSWERS: Executory Period.
Changes to the closing date is an example of an __ _.
pg.14
ANSWERS: amendment
,Changes to the sale price, down payment, and/or amount finances, is an
example of an _.
pg.14
ANSWERS: amendment
Repairs that Seller agrees to perform, is an example of an__ _.
pg.14
ANSWERS: amendment
Contracts for personal ______ are not assignable.
pg.15
ANSWERS: services
Service Contracts are not ____ _.
pg.15
ANSWERS: assignable
One party to a contract may accept the _____of the other and terminate the
contract.
pg.16
ANSWERS: partial performance
, Example: when a tenant signs a one-year lease for an apartment and moves
out
after 10 months. The landlord could accept the tenant's __ of the contract and
then terminate
it. pg.16
ANSWERS: partial performance
_ was created to draft and revise contract forms capable of standarization
for use by real estate license holders. pg.24
ANSWERS: TREC-Lawyer Committee
License holders use forms prepared and approved by a licensed Texas
attorney
for the particular transaction involved. pg.24
ANSWERS: can
