ACEABLE AGENT TEXAS REAL ESTATE
PRINCIPLES; Brand New Actual Exam
With Correct Answers.
Broker's Price Opinion (BPO) - Correct-answerA broker's price opinion is
the process used by a hired sales agent to determine the potential
selling price or estimated value of a real estate property
Bilateral Contract - Correct-answerAn agreement in which both parties
give consideration and promise to perform the actions specified in a
contract
Unilateral Contract - Correct-answerAn agreement in which one party
promises to perform and the other party accepts this promise,
requiring only one party to act
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Executed Contract - Correct-answera contract that has been fully
performed on both sides
Executory Contract - Correct-answerA contract that is not completely
executed or performed
Addenda - Correct-answerDocuments containing additional terms,
information, or obligations that are attached to a contract
Four Corners Doctrine - Correct-answerA legal concept stating that the
court can only consider information that appears within the four
corners of the documents
Amendment - Correct-answerChanges or makes modifications to an
already agreed upon contract
Approved - Correct-answerPromulgated