TEXAS PROMULGATED CONTRACT FORM EXAM
2024-2025 ACTUAL EXAM 200 QUESTIONS AND
CORRECT ANSWERS (VERIFIED ANSWERS)
|AGRADE
Terms in this set (161)
An agreement between a D
buyer and seller giving the
buyer the right to
purchase a property at a
preset price for a given
period of time.
a. Mutual consent
b. Unilateral contract
c. Consideration
d. Option
e. Unenforceable contract
A "meeting of the minds" A
a. Mutual consent
b. Unilateral contract
c. Consideration
d. Option
e. Unenforceable contract
,A contract that cannot be E
enforced due to some
flaw or other issue in the
contract.
a. Mutual consent
b. Unilateral contract
c. Consideration
d. Option
e. Unenforceable contract
Something given in C
exchange for a promise.
a. Mutual consent
b. Unilateral contract
c. Consideration
d. Option
e. Unenforceable contract
A contract in which only B
one party is obligated to
perform.
a. Mutual consent
b. Unilateral contract
c. Consideration
d. Option
e. Unenforceable contract
,The five essential B
elements that must exist
for a real estate sales
contract to be considered
valid and enforceable are:
legal purpose, competent
parties, mutual assent,
consideration and
_______________.
a. Signature of witnesses
b. In writing
c. Acknowledgment by a
notary
d. Recording in county
clerk's office
If a contract has been D
entered into with a person
who has been judged to
be incompetent, that
contract is considered
_________________ because that
person never had the
capacity to enter into it.
a. Executed
b. Valid
c. Voidable
d. Void
, ________________ is defined as C
something given in
exchange for a promise.
a. Mutual consent
b. Legal subject matter
c. Consideration
d. Competent parties
A buyer who has the right A
to purchase a property at
a preset price and terms
for a period of time has
a(n) ______________.
a. Option
b. Novation
c. Bilateral contract
d. Deed
A(n) _______________ contract is A
defined as a contract that
is binding on the parties,
with one or more of the
parties having contractual
duties that have not yet
been performed.
a. Executory
b. Fully executed
c. Bilateral
d. Void
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