Exam (elaborations)
UNIT ONE TEXAS CONTRACT LAW EXAM QUESTIONS AND ANSWERS
- Course
- Institution
UNIT ONE TEXAS CONTRACT LAW EXAM QUESTIONS AND ANSWERS
[Show more]
Content preview
UNIT ONE: TEXAS CONTRACT LAWEXAM QUESTIONS AND ANSWERS
Under the DTPA, which statement is FALSE? - Correct Answers -The answer is a real
estate agent may be sued under the DTPA for giving bad advice related to a real estate
transaction. A real estate agent may not be sued under the DTPA for giving bad advice
related to a real estate transaction, but the agent can be liable for fraud,
misrepresentation, or failing to disclose factual information.
What effect do the rules made by the commission have on license holders? - Correct
Answers -The answer is the rules have full force and effect of law. The commission has
rule-making authority, and the rules of the commission have the full force and effect of
law.
Which of the following is a TREC-promulgated form? - Correct Answers -The answer is
Addendum for Sale of Other Property by Buyer. The Addendum for Sale of Other
Property by Buyer is a TREC-promulgated addendum; the other choices are either
TREC approved forms or TAR forms.
Which of the following is NOT a TREC-promulgated addendum? - Correct Answers -
The answer is Addendum for Seller's Right to Terminate. The Addendum for Seller's
Right to Terminate is not a TREC-promulgated addendum.
What type of contract is a license holder prohibited from completing because doing so
would be considered the unauthorized practice of law? - Correct Answers -The answer
is prepared by a licensed escrow agent. The License Act states that it is not the
unauthorized practice of law for a license holder to complete a contract adopted by the
commission for the type of transaction for which the form is used; prepared by an
attorney licensed in this state and approved by the attorney for the type of transaction
for which the form is used; or prepared by the property owner or by an attorney and
required by the property owner.
Which of the following is TRUE? - Correct Answers -The answer is the rules of the
Texas Real Estate Commission have the full force and effect of law. The commission
has rule-making authority, and the rules of the commission have the full force and effect
of law.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Gordones22. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83750 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now