Law Of Contracts Practice Exam QUESTIONS AND ANSWERS 2023 UPDATE GRADED A+

Law Of Contracts Practice Exam QUESTIONS AND ANSWERS 2023 UPDATE GRADED A+ In ______the Texas Real Estate Commission was established to administer and enforce the TRELA. a. 1939 b. 1929 c. 1949 d. 1993 - Correct Answer-c. 1949 TREC has only _______ promulgated lease forms. a. 1 b. 2 c. 3 d. 4 - Correct Answer-b. 2 In the TAR® Seller's Disclosure the seller should _______. a. prepare the disclosure when the listing is taken b. be the only one completing this form or any part of it c. none of the above d. both a and b - Correct Answer-d. both a and b Which of the following can result in a license revocation or suspension by TREC? (a) Failure to use TRECs promulgated forms (b) Failure to use a form written by an attorney (c) Failure to use a form required by a party (d) all of the above - Correct Answer-(d) all of the above Which of the following does TREC have promulgated sales contract forms for? (a) Lease purchase (b) Right of First Refusal (c) Lease option (d) Homes and condos - Correct Answer-(d) Homes and condos If a client is interested in a lease with an option to purchase or a right of first refusal, the assistance of a(n)_________ is required. (a) Attorney (b) Broker (c) TREC Representative (d) Subagent - Correct Answer-(a) Attorney The State of Texas requires that most sellers of residential property provide a _______ whether or not the seller has ever occupied the property. (a) Amendment to Contract (b) Seller's Temporary Residential Lease (c) Seller's Disclosure (d) Seller Financing Addendum - Correct Answer-(c) Seller's Disclos