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TEXAS PROMULGATED CONTRACTS FORMS (TREC) | UPDATE|COMPREHENSIVE FREQUENT MOST-TESTED QUESTIONS AND VERIFIED ANSWERS/SOLUTIONS|GET IT 100% ACCURATE!!$14.99
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,10/27/24, 9:02 AM TEXAS PROMULGATED CONTRACTS FORMS (TREC) |2024-2025 UPDATE|COMPREHENSIVE FREQUENT MOST-TES…
The five essential B
elements that must exist
for a real estate sales
contract to be
considered valid and
enforceable are: legal
purpose, competent
parties, mutual assent,
consideration and
_______________.
a. Signature of witnesses
b. In writing
c. Acknowledgment by a
notary
d. Recording in county
clerk's office
If a contract has been D
entered into with a
person who has been
judged to be
incompetent, that
contract is considered
_________________ because that
person never had the
capacity to enter into it.
, 10/27/24, 9:02 AM TEXAS PROMULGATED CONTRACTS FORMS (TREC) |2024-2025 UPDATE|COMPREHENSIVE FREQUENT MOST-TES…
________________ is defined as C
something given in
exchange for a promise.
a. Mutual consent
b. Legal subject matter
c. Consideration
d. Competent parties
A buyer who has the right A
to purchase a property at
a preset price and terms
for a period of time has
a(n) ______________.
a. Option
b. Novation
c. Bilateral contract
d. Deed
A(n) _______________ contract A
is defined as a contract
that is binding on the
parties, with one or more
of the parties having
contractual duties that
have not yet been
performed.
a. Executory
b. Fully executed
c. Bilateral
d. Void
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