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Bob Brooks Contracts - Review Exam With Complete Solution
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Bob Brooks Contracts - Review Exam With CompleteSolution 2024-2025
Under a real estate contract, the failure to meet an obligation is called:
a. Rejection
b. Damages
c. Default
d. Reversion - Answer c. Default
The party who receives an offer to purchase is the:
a. Offeree
b. Offeror
c. Buyer
d. Agent - Answer a. Offeree
When the parties to a contract are thinking of the same thing and there has been an
offer and acceptance:
a. The contract must be in writing to be valid.
b. The minds have met.
c. The contract is executed.
d. There exists consideration to be received by each party. - Answer b. The minds have
met.
, A contract having no legal effect or force is:
a. Unenforceable
b. Voidable
c. Valid
d. Void - Answer b. Voidable
A contract of the parties wherein an exchange of promise is implied is a(an):
a. Unilateral contract
b. Binary contract
c. Bilateral contract
d. Novatory agreement - Answer c. Bilateral contract
When one party or the other to a contract has the option of declaring it void but has not
taken action to do so; the contract is:
a. Unenforceable
b. Voidable
c. Unimpaired
d. Novations - Answer b. Voidable
A contract which is created by the parties stating their intentions in words is a(an):
a. Executory Contract
b. Implied Contract
c. Expressed Contract
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