Exam (elaborations)
CHAMPIONS-LAW OF CONTRACTS COURSE EXAM NOVEMBER 2024
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CHAMPIONS-LAW OF CONTRACTS COURSE EXAM NOVEMBER 2024
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**CHAMPIONS-LAW OF CONTRACTSCOURSE EXAM** NOVEMBER 2024
In na nresidential nlease nwith na n"right nof nfirst nrefusal" nprovision: n- n ncorrect nanswer- nThe ntenant
nhas nthe nright nto nmatch nor nbetter nany noffer nthe nlandlord nreceives nto nprevent nthe nproperty
nfrom nbeing nsold nto nsomeone nelse
nThe nfour nECONOMIC ncharacteristics nof nland nare: n- n ncorrect nanswer- n1) nScarcity
2) nModification
3) nSitus
4) nFixity
GIVES nLAND nITS nVALUE
, nThe nBuyer nand nSeller nTemporary nResidential nLease nforms nmay nbe nused nfor na nlease nperiod nnot
nto nexceed: n- n ncorrect nanswer- n90 ndays
nA ncontract nthat nis nsaid nto nlack nmutuality nbecause nonly none nparty nis nobligated nto nperform nis
na________ ncontract. n- n ncorrect nanswer- nUnilateral nContract
nAt nclosing, nthe ncontract nis: n- n ncorrect nanswer- nfully nexecuted
nAccording nto nthe nDeceptive nTrade nPractices nAct n(DTPA), nbrokerage nfalls nunder nthe ncategory nof
n________. n- n ncorrect nanswer- nServices
nThe nfive nessential nelements nof na nvalid nand nenforceable ncontract nare: n- n ncorrect nanswer- nCOLIC
1. nComponent nparties
2. nOffer nand nacceptance
3. nLegal npurpose
4. nIn nwriting
5. nConsideration
n________ nlaw nis na nbody nof nlaw nbased non n"common nsense" nand nlocal ncustom. n- n ncorrect
nanswer- nCommon nLaw
nWhich nkind nof nrights nextend nabove nthe nsurface nof nproperty nwithout nlimitation? n- n ncorrect
nanswer- nAir nrights
nA(n) n________ noccurs nwhen na nnew ncontract nis nsubstituted nfor nan nexisting none. n- n ncorrect
nanswer- nNovation
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