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CHAMPIONS-LAW OF CONTRACTS COURSE EXAM |
BRAND NEW ACTUAL EXAM WITH 100% VERIFIED
QUESTIONS AND CORRECT SOLUTIONS|
GUARANTEED VALUE PACK| ACE YOUR GRADES.
In a residential lease with a "right of first refusal" provision: - (answer)The tenant
has the right to match or better any offer the landlord receives to prevent the
property from being sold to someone else
The four ECONOMIC characteristics of land are: - (answer)1) Scarcity
2) Modification
3) Situs
4) Fixity
GIVES LAND ITS VALUE
The Buyer and Seller Temporary Residential Lease forms may be used for a lease
period not to exceed: - (answer)90 days
A contract that is said to lack mutuality because only one party is obligated to
perform is a________ contract. - (answer)Unilateral Contract
At closing, the contract is: - (answer)fully executed
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According to the Deceptive Trade Practices Act (DTPA), brokerage falls under the
category of ________. - (answer)Services
The five essential elements of a valid and enforceable contract are: -
(answer)COLIC
1. Component parties
2. Offer and acceptance
3. Legal purpose
4. In writing
5. Consideration
________ law is a body of law based on "common sense" and local custom. -
(answer)Common Law
Which kind of rights extend above the surface of property without limitation? -
(answer)Air rights
A(n) ________ occurs when a new contract is substituted for an existing one. -
(answer)Novation
A(n) ________ is a business venture that is owned by one individual. -
(answer)Sole proprietorship
CHAMPIONS-LAW OF CONTRACTS COURSE EXAM |
BRAND NEW ACTUAL EXAM WITH 100% VERIFIED
QUESTIONS AND CORRECT SOLUTIONS|
GUARANTEED VALUE PACK| ACE YOUR GRADES.
In a residential lease with a "right of first refusal" provision: - (answer)The tenant
has the right to match or better any offer the landlord receives to prevent the
property from being sold to someone else
The four ECONOMIC characteristics of land are: - (answer)1) Scarcity
2) Modification
3) Situs
4) Fixity
GIVES LAND ITS VALUE
The Buyer and Seller Temporary Residential Lease forms may be used for a lease
period not to exceed: - (answer)90 days
A contract that is said to lack mutuality because only one party is obligated to
perform is a________ contract. - (answer)Unilateral Contract
At closing, the contract is: - (answer)fully executed
, 2|Page
According to the Deceptive Trade Practices Act (DTPA), brokerage falls under the
category of ________. - (answer)Services
The five essential elements of a valid and enforceable contract are: -
(answer)COLIC
1. Component parties
2. Offer and acceptance
3. Legal purpose
4. In writing
5. Consideration
________ law is a body of law based on "common sense" and local custom. -
(answer)Common Law
Which kind of rights extend above the surface of property without limitation? -
(answer)Air rights
A(n) ________ occurs when a new contract is substituted for an existing one. -
(answer)Novation
A(n) ________ is a business venture that is owned by one individual. -
(answer)Sole proprietorship
