CHAMPIONS-LAW OF CONTRACTS COURSE
EXAM NOVEMBER ACTUAL 2025/2026
QUESTIONS AND 100% CORRECT ANSWERS
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Terms in this set (71)
In a residential lease with a "right of The tenant has the right to match or better any
first refusal" provision: offer the landlord receives to prevent the property
from being sold to someone else
The four ECONOMIC characteristics 1) Scarcity
of land are: 2) Modification
3) Situs
4) Fixity
GIVES LAND ITS VALUE
The Buyer and Seller Temporary 90 days
Residential Lease forms may be used
for a lease period not to exceed:
A contract that is said to lack Unilateral Contract
mutuality because only one party is
obligated to perform is a________
contract.
At closing, the contract is: fully executed
, According to the Deceptive Trade Services
Practices Act (DTPA), brokerage falls
under the category of ________.
The five essential elements of a valid COLIC
and enforceable contract are: 1. Component parties
2. Offer and acceptance
3. Legal purpose
4. In writing
5. Consideration
________ law is a body of law based on Common Law
"common sense" and local custom.
Which kind of rights extend above Air rights
the surface of property without
limitation?
A(n) ________ occurs when a new Novation
contract is substituted for an existing
one.
A(n) ________ is a business venture that Sole proprietorship
is owned by one individual.
A(n) __________ is an agreement Contract
between two or more parties to do
something or to refrain from doing
something.
3 physical characteristics of land 1. non-homogeneity
2. immobility
3. indestructibility
EXAM NOVEMBER ACTUAL 2025/2026
QUESTIONS AND 100% CORRECT ANSWERS
Save
Terms in this set (71)
In a residential lease with a "right of The tenant has the right to match or better any
first refusal" provision: offer the landlord receives to prevent the property
from being sold to someone else
The four ECONOMIC characteristics 1) Scarcity
of land are: 2) Modification
3) Situs
4) Fixity
GIVES LAND ITS VALUE
The Buyer and Seller Temporary 90 days
Residential Lease forms may be used
for a lease period not to exceed:
A contract that is said to lack Unilateral Contract
mutuality because only one party is
obligated to perform is a________
contract.
At closing, the contract is: fully executed
, According to the Deceptive Trade Services
Practices Act (DTPA), brokerage falls
under the category of ________.
The five essential elements of a valid COLIC
and enforceable contract are: 1. Component parties
2. Offer and acceptance
3. Legal purpose
4. In writing
5. Consideration
________ law is a body of law based on Common Law
"common sense" and local custom.
Which kind of rights extend above Air rights
the surface of property without
limitation?
A(n) ________ occurs when a new Novation
contract is substituted for an existing
one.
A(n) ________ is a business venture that Sole proprietorship
is owned by one individual.
A(n) __________ is an agreement Contract
between two or more parties to do
something or to refrain from doing
something.
3 physical characteristics of land 1. non-homogeneity
2. immobility
3. indestructibility
