Executory - Study guides, Class notes & Summaries

Classifying contracts: Express & Implied - Answer-Express: Bilateral, executed Intentions stated (orally or written) Implied: Unilateral, executory Inferred from conduct or actions Classifying contracts: Bilateral & Unilateral - Answer-Bilateral - two promises (both parties bound to do something) Unilateral - Only one party is bound Classifying Contracts: Executed & Executory - Answer-Executed - All tasks performed (After closing) Executory - tasks remaining to be done (befor...

Broker's Price Opinion (BPO) A broker's price opinion is the process used by a hired sales agent to determine the potential selling price or estimated value of a real estate property Closing The completion of a real estate transaction in which the buyer receives ownership and the seller receives the contract amount Comparative Market Analysis (CMA) A report comparing the prices of sold homes that are similar to the subject property (called comparables), created by a license ho...

condominium Severalty ownership of air rights combined with an undivided interest in the common areas of real estate would MOST LIKELY describe a on probation A licensee could be active in the real estate business if his/her license is Agent Kenzie has terminated her relationship with her broker. The broker has returned her license to the BREP. Agent Kenzie has thirty days to place her license in escrow or find another broker Disciplinary actions that can be taken by the ...

Classifying contracts: Express & Implied - ANSWERSExpress: Bilateral, executed Intentions stated (orally or written) Implied: Unilateral, executory Inferred from conduct or actions Classifying contracts: Bilateral & Unilateral - ANSWERSBilateral - two promises (both parties bound to do something) Unilateral - Only one party is bound Classifying Contracts: Executed & Executory - ANSWERSExecuted - All tasks performed (After closing) Executory - tasks remaining to be done (befor...

The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording - B A(n) __________________ contract is 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) Executed (c) Bilateral (d) Void - A

Classifying contracts: Express & Implied - ANSWER Express: Bilateral, executed Intentions stated (orally or written) Implied: Unilateral, executory Inferred from conduct or actions Classifying contracts: Bilateral & Unilateral - ANSWER Bilateral - two promises (both parties bound to do something) Unilateral - Only one party is bound Classifying Contracts: Executed & Executory - ANSWER Executed - All tasks performed (After closing) Executory - tasks remaining to be done (befor...

A 3.45-acre lot sells for 50 cents per square foot. What was the selling price? a. $37,570 b. $75,141 c. $76,230 d. $78,712 - Answer-b. $75,141 A blind ad refers to an ad that a. provides no price b. provides no address c. gives no indication that the property is listed with a broker d. gives no indication that the property has been sold or not - Answer-c. gives no indication that the property is listed with a broker A borrower is required to put 10% down for the purchase of a propert...

ASREB Practice Exam Questions with Verified Answers A 3.45-acre lot sells for 50 cents per square foot. What was the selling price? a. $37,570 b. $75,141 c. $76,230 d. $78,712 b. $75,141 A blind ad refers to an ad that a. provides no price b. provides no address c. gives no indication that the property is listed with a broker d. gives no indication that the property has been sold or not c. gives no indication that the property is listed with a broker A borrower is required t...

IAS 37 Study Provisions, Contingent Liabilities and Contingent Assets Exam False - ANSWERSThis Standard shall be applied by all entities in accounting for provisions, contingent liabilities and contingent assets, except: (a) those not resulting from executory contracts, except where the contract is onerous; and (b) [deleted] (c) those covered by another Standard. par. 1 False - ANSWERSThis Standard does not apply to financial instruments (except guarantees) that are within the sco...

Texas Promulgated Contracts-CHAMPIONS STUDY QUESTIONS AND ANSWERS 100% ACCURATETexas Promulgated Contracts-CHAMPIONS STUDY QUESTIONS AND ANSWERS 100% ACCURATETexas Promulgated Contracts-CHAMPIONS STUDY QUESTIONS AND ANSWERS 100% ACCURATEThe elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording - ANSWER-B A(n) __________________ contract is define...