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Texas Promulgated Contracts Exam Questions and Answers 100% Pass

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Texas Promulgated Contracts Exam Questions and Answers 100% Pass The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording - ANSWER-B A(n) __________________ ...

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  • November 19, 2024
  • 59
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
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  • Prep Tests
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SophiaBennett
Texas Promulgated Contracts Exam
Questions and Answers 100% Pass

The elements of a valid contract are, competent parties, consideration, legal subject

matter, in writing, and ___________.




(a) Default




(b) Mutual consent




(c) Property condition




(d) Recording - ANSWER✔✔-B


A(n) __________________ contract 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.




Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 1/59

,(a) Executory




(b) Executed




(c) Bilateral




(d) Void - ANSWER✔✔-A


In the business of real estate, ___________ is defined as something given in exchange for

a promise.




(a) Consideration




(b) Mutual assent




(c) A bribe




(d) Legal subject matter - ANSWER✔✔-A



Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 2/59

,The TREC-promulgated contract forms:




(a) Are for optional use by real estate licensees




(b) Are drafted by the Broker-Lawyer Committee




(c) Are promulgated by the legislature




(d) Are used in both commercial and residential transactions - ANSWER✔✔-B


In a lease with a "right of first refusal" provision:




(a) The price is set when the lease agreement is negotiated




(b) The tenant has promised to buy the property




(c) The TREC promulgated form must be used




Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 3/59

, (d) The tenant has the right to match or better any offer the landlord receives to prevent

the property from being sold to someone else - ANSWER✔✔-D


TREC has promulgated forms for:




(a) lease purchase transactions




(b) cooperatives




(c) right of first refusal




(d) residential transactions - ANSWER✔✔-D


An offer can be communicated by ___________________.




(a) Phone




(b) Hand delivery




Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 4/59

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