RealEstateU- Texas Promulgated Contract Forms 235 Questions with 100% Correct Answers Verified Latest Updated 2024
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Module
RealEstateU- Texas Promulgated Contract Forms
Institution
RealEstateU- Texas Promulgated Contract Forms
RealEstateU- Texas Promulgated Contract Forms 235 Questions with 100% Correct Answers Verified Latest Updated 2024 The execution of a contract by which the contracting parties are automatically discharged of their obligations under it is known as...? - Performance Which of the following is an examp...
RealEstateU- Texas Promulgated Contract Forms 235 Questions with 1... file:///C:/Users/HP/Desktop/dddd/RealEstateU-%20Texas%20Promu
RealEstateU- Texas Promulgated Contract Forms
Questions & Answers
1. The execution of a contract by which the contracting parties are automati-cally
discharged of their obligations under it is known as...?
ANS Performance
2. Which of the following is an example of consideration?
ANS Money, personalservices, cash
3. A State law requiring certain contracts to be in writing and signed beforethey will be
enforceable at law is known as the?
ANS Statute of Frauds
4. Which of the following is an example of a forbearance contract?
ANS Optionscontract
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,RealEstateU- Texas Promulgated Contract Forms 235 Questions with 1... file:///C:/Users/HP/Desktop/dddd/RealEstateU-%20Texas%20Promu
5. A valid contract must be and enforceable?
ANS Binding
6. Which of the following real estate contracts does not have to be in writing?-
ANS Leases under one year
7. If one of the parties to a contract does not voluntarily agree to the contract,this element
of valid contract is violated?
ANS Mutual agreement
8. To have no force or effect is referred to as a ........................ contract?
ANS Void
9. That which is capable of being adjusted void, but is not unless action istaken to
make it so, is referred to as a/an ...................................... contract?
ANS Voidable
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10. In order to be considered a competent party, an individual must be of theage of the?
ANS Majority
11. A contract in which one of the parties is a minor is considered a
ANS Voidablecontract
12. A contract in which there is fraud by either commission or omission isvoidable by
the?
ANS Non-fraudulent party
13. A contract in which each party promises to do something is referred to asa
ANS Bilateral contract
14. When one party promises to do something if the other party performs a certain act,
but the other party does not promise to perform it, it is referred toas a?
ANS Unilateral contract
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15. An options contract is an example of a/an?
ANS Unilateral contract
16. Which of the following is an example of a bilateral contract?
ANS Listing con-tract, sales contract, and independent contractor agreement
17. What is an amendment?
ANS A change in a legal document made by adding,altering, or omitting a certain part or
term
18. What is an addendum?
ANS Additional pages of material that are added to andbecome part of a contract
19. What is an assingment?
ANS A transfer of benefits and obligations within a contractto a 3rd party who is not originally a
party to the contract
20. What is novation?
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