Real Estate 84 ch07 quiz with answers

1 out of 1 points


Which of the following is not an element that should be included in every purchase
agreement?

Selected c.
Answer:
Agent's commission rate

Answers: a.

Identification of parties

b.

Stated price and method of payment

c.

Agent's commission rate

d.

List of liens and encumbrances the buyer will assume or take title
subject to


 Question 2

1 out of 1 points


If someone has a power of attorney to sign the purchase agreement on behalf of the seller,
which of the following would be the proper way to sign?

Selected Answer: b.

Philip Adams, by Alice Jackson, his attorney in fact

Answers: a.

, Philip Adams, seller

b.

Philip Adams, by Alice Jackson, his attorney in fact

c.

Alice Jackson, attorney in fact for the seller

d.

Philip Adams, by his attorney in fact


 Question 3

1 out of 1 points


The seller of a commercial building is a corporation. Who may sign the purchase
agreement?

Selected a.
Answer:
An officer of the corporation who has been authorized to sell the
property by a resolution of the board of directors

Answers: a.

An officer of the corporation who has been authorized to sell the
property by a resolution of the board of directors

b.

Any officer of the corporation

c.

Any member of the corporation's board of directors