Broker lawyer committee - Study guides, Class notes & Summaries

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 - Answer- 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 - Answer- A In the business...

When was TREC created? - correct answer 1947 TREC has the authority to.. - correct answer make rules and regulations. It's rules and laws govern license holders TREC has how many commission members? - correct answer 9 members, 3 represent the general public and 6 are real estate brokers TREC has the power to.. - correct answer subpoena books, records, and witnesses and issue and revoke real estate licenses If your license is revoked by TREC... - correct answer You can appe...

'1101' laws are associated with... correct answersTRELA '535' laws are associated with... correct answersTREC TRELA was established in... correct answers1939 TREC was established in... correct answers1949 The Real Estate Recovery Trust Account is used to... correct answersProtect aggrieved individuals who suffer a monetary loss due to illegals acts of license holders. The maximum amount per transaction for Real Estate Recovery is... correct answers$50,000 The maximum amount...

Law of Contracts exam with verified solutions The TREC residential contract forms are: (a) For optional use by real estate license holders (b) Drafted by the Broker Lawyer Committee (c) Promulgated by the Broker Lawyer Committee (d) Mandatory for all transactions in Texas - ANSWER-B Wrongful or criminal deception intended to result in financial or personal gain is called: (a) Fraud (b) Accident (c) Liability

When was TREC created? correct answer: 1947 TREC has the authority to.. correct answer: make rules and regulations. It's rules and laws govern license holders TREC has how many commission members? correct answer: 9 members, 3 represent the general public and 6 are real estate brokers TREC has the power to.. correct answer: subpoena books, records, and witnesses and issue and revoke real estate licenses If your license is revoked by TREC... correct answer: You can appeal the dec...

Broker Lawyer Committee member brake down - Answer-13 members, 6 lawyers by president of state bar of texas, 6 brokers by TREC, 1 public member appointed by governor The Broker-Lawyer Committee -------contact forms intended for use by licensees. - - Answer-draft and revised TREC --------forms drafted by the Broker-Lawyer Committee. - Answer-promulgates or approves Promulgate vs approve - Answer-meaning in TREC: Promulgate = mandatory to use (we bring it to the table the consumer may cho...

When was TREC created? - 1947 TREC has the authority to.. - make rules and regulations. It's rules and laws govern license holders TREC has how many commission members? - 9 members, 3 represent the general public and 6 are real estate brokers TREC has the power to.. - subpoena books, records, and witnesses and issue and revoke real estate licenses If your license is revoked by TREC... - You can appeal the decision to the district court Who writes promulgated contract forms? - The Broker ...

Promulgated Contracts Champions Study Guide |206 Questions with Complete Solutions(Rated A+). Cashiers check or wire transfer - ANSWER-Good Funds What does a buyer need to bring to closing? - ANSWER-Good Funds Where is Good Funds in the TREC promulgated form? - ANSWER-Paragraph 9.B(2) T/F Title companies may accept a small personal check from a buyer as part of the good funds if their policy allows it. - ANSWER-True Created to draft and revise contract forms capable of standardi...

When was TREC created? - 1947 TREC has the authority to.. - make rules and regulations. It's rules and laws govern license holders TREC has how many commission members? - 9 members, 3 represent the general public and 6 are real estate brokers TREC has the power to.. - subpoena books, records, and witnesses and issue and revoke real estate licenses If your license is revoked by TREC... - You can appeal the decision to the district court Who writes promulgated contract forms? - The Broker ...

When was TREC Created? - Answer- 1939 What Does TREC have the authority to do? - Answer- Make rules and regulations How many members are in TREC - Answer- 9 Members 6 Brokers 3 General Public How are TREC members appointed? - Answer- By the governor or senate What happens if a License Holder fails to respond to a subpoena - Answer- TREC can file a suit with the attorney general Who writes promulgated contract forms - Answer- The broker Lawyer Committee How many members are o...