Real Estate CE 45 hour post licensing Accurate 100%

Real Estate CE 45 hour post licensing AccA contract that violates a rule intended for the protection of private parties, as when a party lacked capacity or did not give free consent at the time the contract was made is said to be: - ANSWER relatively null If a court is called upon to determine the intent of the parties to a contract based upon the language in the contract, the court will interpret the contract _____ the party that did not draft it. - ANSWER in favor of Another, more common, name for a mandate or procuration is: - ANSWER Power of attorney Regarding damages as specified in a contract, the right to specific performance and other remedies may be controlled by the: - ANSWER contract Is it permissible for a Trustee to buy, sell, or mortgage immovable property for the trust? - ANSWER YES, as long as the trust document does not prohibit such an act Fill in the blank with the correct answer to this statement: In a contract where one party obligates himself to another without obtaining any advantage in return, the contract is referred to as: - ANSWER gratuitous Redhibition concerns: - ANSWER the condition of the property A(n) __________ is an agreement in which a party promises not to sell a thing without first offering it to a certain person. - ANSWER Right of first refusal Unless otherwise stipulated, the time for acceptance of a right of first refusal is: - ANSWER 30 days Parties may stipulate the damages to be recovered in case of nonperformance, defective performance, or delay in performance of an obligation. These are called: - ANSWER Liquidated damages Under the concept of "Fitness for Use," anything sold must be fit for its: - ANSWER Ordinary use A buyer agency agreement is an agreement between: - ANSWER a broker and a buyer urate 100%