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Aceable Agent - Promulgated Contracts Exam (2024 / 2025) Actual Questions with Verified Answers, 100% Guarantee Pass
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  • Texas Real Estate

Aceable Agent - Promulgated Contracts Exam (2024 / 2025) Actual Questions with Verified Answers, 100% Guarantee Pass

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Document information

  • August 21, 2024
  • 19
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • aceable agent promulgated contracts

Written for

  • Texas Real estate
  • Texas Real estate

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TIPSCORE

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Aceable Agent - Promulgated Contracts.pdf file:///C:/Users/HP/Desktop/NIW/Aceable%20Agent%20-%20Promu




Aceable Agent - Promulgated Contracts



1. A contract that has no legal effect.

ANS VOID

2. When one or more of the parties has the authority to rescind the contract. It appears

to be valid, but one party may disaffirm because they are a minor, were subject to duress,

or a victim of fraud or misrepresentation.

ANS VOIDABLE

3. A law that requires real estate contracts be in writing is the

?

ANS STATUTE OF FRAUDS

4. Prevents a party to a written contract from presenting additional evidence that adds

to the written terms of the contract.

ANS PAROLE EVIDENCE RULE

5. If 2 people have a legal contract for one party to sell illegal drugs to the other party, this

contract would be ?


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ANS VOID

6. Paragraph 5 in a sales contract?

ANS EARNEST MONEY

7. Paragraph 23 in a sales contract?

ANS OPTION MONEY

8. Legal loss of a right with the thought that "if you don't use it, you lose it."

ANS DOCTRINE OF LACHES

9. A written contract has been accepted, signed, and communicated to the other party.

ANS EFFECTIVE DATE

10. Prevents a party to a written contract from presenting additional evidence that adds

to the written

ANS PAROLE EVIDENCE RULE

11. Prevents a party

ANS PAROLE EVIDENCE RULE

12. If a licensed agent uses an old promulgated TREC form, what is this in violation

of?

ANS LICENSE ACT

13. If a seller does not want to leave a chandelier where should they put this information
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in the 1-4 Family Residential Contract?

ANS PARAGRAPH 2D EXCLU- SIONS

14. What addendum can you attach to the sales contract if your client wishes to have

additional personal property to stay with the property (that is not listed in Paragraph 2B or

2C)?

ANS NON-REALTY ITEMS ADDENDUM

15. Loan to value ratio that represents how much of the sales price is covered by the

mortgage loan.

ANS LTV RATIO

16. Loan in which the lender is allowed to seize the collateral property and could go

after the borrower's other assets if the sale of the property doesn't cover the whole

amount owed to the lender.

ANS RECOURSE LOAN

17. After a real estate transaction fails, both parties can't agree who gets the earnest

money, what should a buyer's agent do?

ANS SEND A WRITTEN DEMAND TO THE TITLE CO

18. Who should the option money be delivered to?

ANS SELLER
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