California Legal Aspects of Real Estate Final Exam 2022 (Answered)

California Legal Aspects of Real Estate Final Exam 2022 (Answered) A promissory note is: a. evidence of the debt b. evidence of a sale c. a security inte rest in the property for the lender d. the same as a mortgage or trust deed In order to be considered an emancipated minor and have the capacity to contract, a minor must: a. be married, widowed, or divorced; have entered military service on active duty; or have received a declaration of emancipation from a court b. just state that he is an emancipated minor c. be employed d. act mature enough to make his own decisions An agency coupled with an interest will not be terminated by death of the: a. lender b. principal c. escrow holder d. customer A lease that provides renewal options on a tenancy for years on agricultural land for more than 51 years would be: a. enforceable b. a violation of the tenant's rights c. unenforceable d. a violation of the landlord's rights After the three-day notice is served and the tenant still does not cure the default, the landlord may: a. have a friend remove the tenant and the tenant's belongings from the property b. go to the sheriff to get the tenant thrown out c. initiate a peaceful eviction proceeding d. initiate an unlawful detainer action Procuring cause is best defined as an agent who is entitled to a commission because the agent was the one who: a. introduced the buyer to the property b. met the buyer at an open house c. initiated an uninterrupted series of events that led to that state d. wrote up the offer A homestead declaration does not protect an owner from liens such as: