TEXAS PROMULGATED CONTRACT FORM EXAM
ACTUAL EXAM 200 QUESTIONS AND CORRECT
ANSWERS (VERIFIED ANSWERS) AGRADE.
In Texas, the statute of limitations is ____________ for an
oral agreement.
a. Four years
b. Two years
c. Eight years
d. Six years - ANSWER >>>>B
A rejection of the original offer coupled with a new offer.
a. Promulgated forms
b. Counteroffer
c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ANSWER >>>>B
License holder adding complex provisions to a contract.
a. Promulgated forms
b. Counteroffer
c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ANSWER >>>>C
Contract forms published by TREC.
,a. Promulgated forms
b. Counteroffer
c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ANSWER >>>>A
The party making an offer.
a. Promulgated forms
b. Counteroffer
c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ANSWER >>>>E
An agreement between a buyer and seller giving the buyer
the right to purchase a property at a preset price for a given
period of time.
a. Mutual consent
b. Unilateral contract
c. Consideration
d. Option
e. Unenforceable contract - ANSWER >>>>D
A "meeting of the minds"
a. Mutual consent
b. Unilateral contract
c. Consideration
d. Option
e. Unenforceable contract - ANSWER >>>>A
,A contract that cannot be enforced due to some flaw or other
issue in the contract.
a. Mutual consent
b. Unilateral contract
c. Consideration
d. Option
e. Unenforceable contract - ANSWER >>>>E
Something given in exchange for a promise.
a. Mutual consent
b. Unilateral contract
c. Consideration
d. Option
e. Unenforceable contract - ANSWER >>>>C
A contract in which only one party is obligated to perform.
a. Mutual consent
b. Unilateral contract
c. Consideration
d. Option
e. Unenforceable contract - ANSWER >>>>B
The five essential elements that must exist for a real estate
sales contract to be considered valid and enforceable are:
legal purpose, competent parties, mutual assent,
consideration and _______________.
a. Signature of witnesses
b. In writing
c. Acknowledgment by a notary
, d. Recording in county clerk's office - ANSWER >>>>B
If a contract has been entered into with a person who has
been judged to be incompetent, that contract is considered
_________________ because that person never had the
capacity to enter into it.
a. Executed
b. Valid
c. Voidable
d. Void - ANSWER >>>>D
________________ is defined as something given in
exchange for a promise.
a. Mutual consent
b. Legal subject matter
c. Consideration
d. Competent parties - ANSWER >>>>C
A buyer who has the right to purchase a property at a preset
price and terms for a period of time has a(n)
______________.
a. Option
b. Novation
c. Bilateral contract
d. Deed - ANSWER >>>>A
A(n) _______________ contract is defined as a contract that
is binding on the parties, with one or more of the parties
having contractual duties that have not yet been performed.
ACTUAL EXAM 200 QUESTIONS AND CORRECT
ANSWERS (VERIFIED ANSWERS) AGRADE.
In Texas, the statute of limitations is ____________ for an
oral agreement.
a. Four years
b. Two years
c. Eight years
d. Six years - ANSWER >>>>B
A rejection of the original offer coupled with a new offer.
a. Promulgated forms
b. Counteroffer
c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ANSWER >>>>B
License holder adding complex provisions to a contract.
a. Promulgated forms
b. Counteroffer
c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ANSWER >>>>C
Contract forms published by TREC.
,a. Promulgated forms
b. Counteroffer
c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ANSWER >>>>A
The party making an offer.
a. Promulgated forms
b. Counteroffer
c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ANSWER >>>>E
An agreement between a buyer and seller giving the buyer
the right to purchase a property at a preset price for a given
period of time.
a. Mutual consent
b. Unilateral contract
c. Consideration
d. Option
e. Unenforceable contract - ANSWER >>>>D
A "meeting of the minds"
a. Mutual consent
b. Unilateral contract
c. Consideration
d. Option
e. Unenforceable contract - ANSWER >>>>A
,A contract that cannot be enforced due to some flaw or other
issue in the contract.
a. Mutual consent
b. Unilateral contract
c. Consideration
d. Option
e. Unenforceable contract - ANSWER >>>>E
Something given in exchange for a promise.
a. Mutual consent
b. Unilateral contract
c. Consideration
d. Option
e. Unenforceable contract - ANSWER >>>>C
A contract in which only one party is obligated to perform.
a. Mutual consent
b. Unilateral contract
c. Consideration
d. Option
e. Unenforceable contract - ANSWER >>>>B
The five essential elements that must exist for a real estate
sales contract to be considered valid and enforceable are:
legal purpose, competent parties, mutual assent,
consideration and _______________.
a. Signature of witnesses
b. In writing
c. Acknowledgment by a notary
, d. Recording in county clerk's office - ANSWER >>>>B
If a contract has been entered into with a person who has
been judged to be incompetent, that contract is considered
_________________ because that person never had the
capacity to enter into it.
a. Executed
b. Valid
c. Voidable
d. Void - ANSWER >>>>D
________________ is defined as something given in
exchange for a promise.
a. Mutual consent
b. Legal subject matter
c. Consideration
d. Competent parties - ANSWER >>>>C
A buyer who has the right to purchase a property at a preset
price and terms for a period of time has a(n)
______________.
a. Option
b. Novation
c. Bilateral contract
d. Deed - ANSWER >>>>A
A(n) _______________ contract is defined as a contract that
is binding on the parties, with one or more of the parties
having contractual duties that have not yet been performed.
