law of Contracts

Drafts and revises contract forms for use in real estate transactions in the state of Texas. a. Promulgated forms b. Intentionally c. Puffing d. Deceptive Trade Practices Act e. Broker-Lawer Committee (Ans- E Forms published by TREC that are mandatory for license holders to use in real estate transactions int he state of Texas. a. Promulgated forms b. Intentionally c. Puffing d. Deceptive Trade Practices Act e. Broker-Lawer Committee (Ans- A Allows an aggrieved consumer t...

The TREC residential contract forms are: (Ans- Drafted by the Broker Lawyer Committee Wrongful or criminal deception intended to result in financial or personal gain is called: (Ans- fraud Under the Deceptive Trade Practices Act, __________ are defined as tangible chattels. (Ans- goods If a seller will continue to occupy the property for one month after the closing, the buyer and seller should: (Ans- Enter into a Seller's Temporary Residential Lease The Buyer and Seller Temp...

adaptation (Ans- the use and modification of a particular item for a specific use in a property — specific use for a property could deem an item as real property Annexation (Ans- attaching (or affixing) personal property to real estate in a way that transforms the personal property into real property Beneficiary (Ans- the recipient of advantage or gain from an act or instrument such as a trust, will, or insurance policy bill of sale (Ans- a certificate of transfer of personal ...

All of the following acts on the part of a real estate broker would constitute steering and thus be prohibited under the Fair Housing Act EXCEPT: A) directing a prospective buyer of one minority group to work only with a salesperson of the same minority group and to look at areas dominated by that minority group B) directing a member of one minority group away from properties located in areas dominated by other races C) referring a member of one minority group to properties located only i...

Contract Law (Ans- Contract law, which governs the issuance of insurance policies, is concerned with the obligations agreed upon between parties and stipulated in a contract. Contract law ensures that a contract is legally valid and that the legal obligations of the contract are carried out. For a contract to be legally enforceable in court, there must have been an exchange of value (consideration), mutual agreement of the parties (offer and acceptance) and a legal purpose. Parties to the con...

Wrongful or criminal deception intended to result in financial or personal gain is called: - CORRECT ANSWERS fraud The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to exceed: - CORRECT ANSWERS 90 days __________ extend above the surface without limitation. - CORRECT ANSWERS air rights An example(s) of an appurtenance would be: - CORRECT ANSWERS easements There is no upper limit on the value of a Texas homestead. - CORRECT ANSWERS true A(n) _____...

**Champions-Law of Contracts Course Exam** November 2022/2023 1. In a residential lease with a "right of first refusal" provision:: The tenant has the right to match or better any offer the landlord receives to prevent the property from being sold to someone else 2. The four ECONOMIC characteristics of land are:: 1) Scarcity 2) Modification 3) Situs 4) Fixity GIVES LAND ITS VALUE 3. The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to exceed:...