Exam (elaborations)
Law of Contracts Exam Prep Questions With 100% Verified Solutions!!
- Course
- Institution
Law of Contracts Exam Prep Questions With 100% Verified Solutions!!
[Show more]
Content preview
Name: Score:60 Multiple choice questions
Term 1 of 60
Which one of the following instruments does NOT transfer an interest in real estate?
option
lease
bill of sale
agreement of sale
Term 2 of 60
The "Seller's Disclosure of Property Condition" must be delivered to the buyer in all of the
following transactions EXCEPT:
A) for the sale of commercial property
B) if the seller has not resided on the property in the last year
C) when the seller is not assisted by a licensed real estate agent
D) if the buyer has lived on the property as a tenant
A) written contract
not C
not D
A) the first offer is valid
,Term 3 of 60
An instrument conveying title to real property which guarantees title is good and promises to
forever defend that title is:
a policy of title insuarance
an abstract of title
a deed of trust
a general warranty deed
Term 4 of 60
A promise in exchange for a promise supported by consideration is the basis for:
a voidable contract
a valid binding bilateral agreement
an offer to lease
a unilateral contract with option
Term 5 of 60
A contract by which the owner agrees with another person that he shall have the right to buy the
property at a fixed price, within a certain period of time is called:
an escrow sales contract
a sale and leaseback
a "time is of the essence" provision
an option
, Term 6 of 60
When two people have signed a real estate contract, what interest does the purchaser have?
equitable title
clear title
contract conveys no interest
defeasance title
Term 7 of 60
A real estate sales contract is void if:
A) the seller changes his mind about the price
B) it is for an illegal purpose
C) it is between a minor and an adult
D) it is entered into under duress
not D
D) an option
Not A
C) void
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller stuuviaa. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81298 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
