PROMULGATED CONTRACT FORMS PACKAGE DEAL

Federal Fair housing laws forbids discriminatory practices by parties including: - ️️Owners of property Lenders Real Estate Brokers all of the above Use of the TREC promulgated One to Four Family Residential Contract (resale)is allowed on the sale of a residential condominium - ️️false...

mutual consent - ️️a "meeting of the minds" unilateral contract - ️️a contract in which only one party is obligated to perform unenforceable contract - ️️a contract that cannot be enforced due to some flaw or other issue in the contract elements of a valid and enforceable cont...

Contract: - ️️A legally binding and enforceable agreement to do or not to do a specific thing Promulgated Contract: - ️️A contract that has been approved and is required to be used by license holders In Texas, what are the two entities that promulgate contracts? - ️️TREC and TAR ...

If a buyer decides to terminate a contract, the seller must agree to the termination. A) True B) False - ️️B) False Which of the following, with written, consent, may act as an Intermediary? A) The Broker representing the seller and buyer B) The Broker cooperating with the listing b...

If there is no time limit specified in an offer, then the time limit will expire: - ️️Within a reasonable time The clause in a contract stating that "time is of the essence" would indicate: - ️️Strict performance of certain acts within the time stated in the contract. A bilateral con...

1. The effective date- who, what, and when? - ️️Between the buyer and the seller, The date on which the communication was made. The date of initialing and signing of the parties. The last party to initial/Sign fills in the day. 2. What is the legal proceedings brought by party to a contract a...

When earnest money is deposited with an escrow agent, the escrow agent: - ️️A) Is not responsible for the performance of any signatory B) Has the right to secure written release of all signatories C) Is not liable for interest on the money How does the Texas Real Estate License Act define the...

mutual consent - ️️a "meeting of the minds" Unilateral Contract - ️️A contract in which only one party Is obligated to perform. one sided Consideration - ️️something given in exchange for a promise Option - ️️an agreement between a buyer and seller giving the buyer the rig...