Champion School of Real Estate-Law of Contracts Exam with Complete Solutions

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 g...

Why do we need contract law? - anso Contracts define what we mean by a society based on the market and individual choice o Contracts provide enforcement mechanism for agreements that are performed in the future o Contracts provide a mechanism for working out problems that arise during or after p...

Law of Contracts exam multiple choice

Sources of Law - ans 1) U.S. Constitution - law of the land, establishes branches of govt., checks and balances, and basic rights for all 2) State Constitutions - create state executive, legislative, and judicial branches 3) Statutes - laws passed by federal and state govt./legislatures 4) Com...

LAW OF CONTRACTS EXAM 2 QUESTIONS WITH CORRECT ANSWERS

Basics of a Contract - ans - is a promise or set of promises enforced by the law Requirements of a contract (3 things) - ans - offer: manifestation of willingness to enter into a bargain - Acceptance: an unequivocal (leaving no doubt; unambiguous) assent (agreeing to something) to the...

A sale and leaseback agreement is: - ansa way for landowners to free up capital while maintaining the same overhead expenses With net leases, each added "net" requires a tenant to pay for an additional expense that may have otherwise fallen on the landlord. All of the following are expenses t...

Contracts II - Final Exam - Formation of Contracts

The __ states that the intent to contract is judged by the reasonable person standard and not by the subjective intent of the parties - ansObjective Theory of contracts According to the objective theory of contracts, the intent to enter into an express or implied-in-fact contract is judged by ...

Champions School of Real Estate-Law of Contracts Exam 1

Wrongful or criminal deception intended to result in financial or personal gain is called: - ans fraud The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to exceed: - ans 90 days __________ extend above the surface without limitation. - ans ai...

TERLA - ans- Texas Real Estate License Act - Created in 1939 TREC - ans- Texas Real Estate Commission - Created in 1949 to administer/enforce TERLA Real Estate Center - ans- Located at Texas A&M University - Created in 1970 TREC-Promulgated Forms/Leases (Residential): -...

All of the following acts on the part of a real estate broker would constitute steering and thus be prohibited under the Fair Housing Act EXCEPT: A) directing a prospective buyer of one minority group to work only with a salesperson of the same minority group and to look at areas dominated by t...

Which of the following is a requirement for a Texas real estate sales agent license? a. College degree b. 30 hours of Real Estate Principles Only c. Showing competency by passing the licensing exam d. Must be Texan by birth - ansC. Showing competency by passing the licensing exam An activ...