Executory contract - Study guides, Class notes & Summaries

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...

LEB 320F FINAL EXAM QUESTIONS AND ANSWERS GRADED A+ What is the difference between "executed" and "executory" contracts? An executed contract is one where all parties have fulfilled their obligations, while an executory contract has ongoing obligations that have not yet been completed. How does "statute of frauds" affect contract enforcement? The statute of frauds requires certain types of contracts to be in writing to be enforceable, such as contracts for real estate transa...

When classifying contracts according to their state of performance, a contract that has been fully performed on both sides is a(n): a. executed contract. b. valid contract. c. void contract. d. executory contract. - Answer a. executed contract

assignment correct answersThe transfer of rights and duties, but not liabilities, from one contract to another contract or from one person to another person is an: liquidated damages. Earnest money is not consideration; it is the seller's remedy in a liquidated damages contract if the buyer defaults. correct answersWhen the buyer is in default and the seller keeps the earnest money, the contract MOST likely provided for: executory. The phase from offer to a closed and executed/closed cont...

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...

1. The state of the contract between the execution date and the closing. A) Fully executed contracted B) Executed contract C) Option contract D) Executory contract ANS D) Executory contract 2. This lease has a defined specific beginning and ending date. A) Estate at sufferance B) Estate at will C) Estate from period to period D) Estate for years ANS D) Estate for years 3. The TREC ONE-TO-FOUR RESIDENTIAL RESALE CONTRACT requires the seller to deliver to the buyer at closing. A) ...

LEB 320F Exam 2 Questions and Answers Already Passed Explain the concept of "promissory estoppel." Promissory estoppel prevents a party from backing out of a promise when the other party has relied on that promise to their detriment. What does "parol evidence rule" entail in contract law? The parol evidence rule prohibits the use of oral or extraneous evidence to alter or contradict the terms of a written contract. When is a "contract of adhesion" likely to be unenforceable...

Executed and Executory contracts are differentiated by: - their stages of fulfillment. Which of these is an exemption to the "legal capacity" requirement to form a contract? - A contract for a life necessity. A contract for non-life necessities with a person lacking legal capacity is: - Voidable A contract for deed is a classic example of a(n): - Executory contract An option is a form of which kind of contract? - Unilateral According to TREC a "reasonable time" within which to deposit ...

MIE 305 Final Exam Latest Update with Verified Solutions Contract a promise or set of promises supported by the exchange of bargained-for consideration for the breach of which the law gives a remedy, or the performance of which the law recognizes as an enforceable duty. "a promise or set of promises that are enforceable in court." primarily state based common law contract elements -Agreement: the parties agree to the exchange of legal detriment as to each other -Bargained-for con...