Page |1
Law of Contracts - CHAMPIONS TEST,
Exam comprehensive questions and
verified answers ACTUAL EXAM 2025
TEST!! Graded A+ Questions and Correct
Answers/ Latest Update / Already Graded
The TREC residential contract forms are:
Ans: Drafted by the Broker Lawyer Committee
Wrongful or criminal deception intended to result in financial or
personal gain is called:
Ans: fraud
Under the Deceptive Trade Practices Act, __________ are defined as
tangible chattels.
Ans: goods
If a seller will continue to occupy the property for one month after the
closing, the buyer and seller should:
Ans: Enter into a Seller's Temporary Residential Lease
All rights reserved © 2025/ 2026 |
, Page |2
The Buyer and Seller Temporary Residential Lease forms may be used
for a lease period not to exceed:
Ans: 90 days
a seller's disclosure notice is not required
Ans: at a foreclosure sale
The type of law that deals with the relationship between the parties to
a transaction, sales agents and brokers is:
Ans: agency law
__________ is the body of laws and regulations enacted by federal and
state legislative bodies.
Ans: statutory law
__________ extend above the surface without limitation.
Ans: air rights
Any man-made addition to land that is permanent, and is considered
to become part of the land is known as a(n) __________.
All rights reserved © 2025/ 2026 |
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Ans: improvement
A(n) __________ is an entity created for the benefit of another.
Ans: trust
an option contract is:
Ans: unilateral contract
__________ is not a requirement of a valid contract.
Ans: earnest money
If a person has been judged to be incompetent, a contract is
__________ because the person never had the capacity to enter into a
contract in the first place.
Ans: void
The five essential elements of a valid and enforceable contract are,
Consideration, Offer and Acceptance, Legal purpose, In writing and
__________.
Ans: competent parties
All rights reserved © 2025/ 2026 |
, Page |4
A(n) __________ is an agreement between two or more parties to do
something or to refrain from doing something.
Ans: contract
When an individual owns real property, he or she is said to have a (n)
__________ in that property.
Ans: freehold estate
If property violates zoning, the owners must request a __________,
which is permission to violate the rules.
Ans: variance
An example(s) of an appurtenance would be:
Ans: easements
There is no upper limit on the value of a Texas homestead.
Ans: true
All rights reserved © 2025/ 2026 |
Law of Contracts - CHAMPIONS TEST,
Exam comprehensive questions and
verified answers ACTUAL EXAM 2025
TEST!! Graded A+ Questions and Correct
Answers/ Latest Update / Already Graded
The TREC residential contract forms are:
Ans: Drafted by the Broker Lawyer Committee
Wrongful or criminal deception intended to result in financial or
personal gain is called:
Ans: fraud
Under the Deceptive Trade Practices Act, __________ are defined as
tangible chattels.
Ans: goods
If a seller will continue to occupy the property for one month after the
closing, the buyer and seller should:
Ans: Enter into a Seller's Temporary Residential Lease
All rights reserved © 2025/ 2026 |
, Page |2
The Buyer and Seller Temporary Residential Lease forms may be used
for a lease period not to exceed:
Ans: 90 days
a seller's disclosure notice is not required
Ans: at a foreclosure sale
The type of law that deals with the relationship between the parties to
a transaction, sales agents and brokers is:
Ans: agency law
__________ is the body of laws and regulations enacted by federal and
state legislative bodies.
Ans: statutory law
__________ extend above the surface without limitation.
Ans: air rights
Any man-made addition to land that is permanent, and is considered
to become part of the land is known as a(n) __________.
All rights reserved © 2025/ 2026 |
, Page |3
Ans: improvement
A(n) __________ is an entity created for the benefit of another.
Ans: trust
an option contract is:
Ans: unilateral contract
__________ is not a requirement of a valid contract.
Ans: earnest money
If a person has been judged to be incompetent, a contract is
__________ because the person never had the capacity to enter into a
contract in the first place.
Ans: void
The five essential elements of a valid and enforceable contract are,
Consideration, Offer and Acceptance, Legal purpose, In writing and
__________.
Ans: competent parties
All rights reserved © 2025/ 2026 |
, Page |4
A(n) __________ is an agreement between two or more parties to do
something or to refrain from doing something.
Ans: contract
When an individual owns real property, he or she is said to have a (n)
__________ in that property.
Ans: freehold estate
If property violates zoning, the owners must request a __________,
which is permission to violate the rules.
Ans: variance
An example(s) of an appurtenance would be:
Ans: easements
There is no upper limit on the value of a Texas homestead.
Ans: true
All rights reserved © 2025/ 2026 |
