Promulgated forms quiz Study guides, Class notes & Summaries

Void Contract - ANSWER-Invalid from the beginning and voidable contract is one that can't be enforced against one or more parties (minors are voidable at the option of the minor). Example of Void Contract - ANSWER-A contract between two parties to commit an illegal act is a void contract. Elements of a Valid Contract - ANSWER-COLIC Competent Parties Offer and Acceptance (mutual consent) Legal Purpose In Writing (when required by law) Consideration Earnest Money - ANSWER-Not a requ...

an owner is entitled to receive copies of any document that governs the establishment, or operation of a subdivision - True When the seller owns 75% of his minerals and reserves 50% of the minerals.... - 50% of 75% If the buyer decides to terminate the contract under any of his/her rights to terminate, the correct form to use for that purpose is the: - Notice of Buyers Termination of the Contract The protected classes under the Federal Fair Housing Act are - Race, color, rel...

Texas Promulgated Contract Forms Quiz QUESTIONS AND ANSWERS Consideration

QUIZ 1: All oral negotiations are______ - Answer- (A) voluntary The ______ assumes primarily liability for performance under the contract - Answer- (A) assignee Mutual consent is completed by the process of ______ - Answer- (B) offer and acceptance Which of the following is the buyers primary obligation toward the performance of a real estate contract? - Answer- (C) be ready to pay the agreed-upon price Which of the following contracts is NOT assignable? - Answer- (C) contracts for...

he seller - Unless otherwise stated in the Seller's Temporary Residential Lease, who shall bear the cost of all expenses for the repairs and maintenance of the property during the term of the lease...? Seller needs to release the buyer's earnest money - If both parties sign the Notice of Buyer's Termination of Contract, what still remains to be done...? Addendum For Coastal Area Property - If a buyer is purchasing a property adjacent to coastal waters, what form must be included with the...

Principles of Real Estate 1- Champions Quiz correctly answered 2023 verifiedContracts with a person who lacks mental capacity can be - correct answer either void or voidable Community property is a concept of - correct answer Spanish law, and marriage is regarded as a partnership. Intermediary Without Appointments. - correct answer an agent will have the opportunity to sell their own listing. Oil and gas companies employ - correct answer a large number of individuals with a real estate ...

Test- Texas Promulgated Contract Forms- Quiz Questions | Quizlet.

The five essential 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 - Answer- (b) In writing If a contract has been entered into with a person who has been judged to be incompetent, that contract is considered ____________ because that person n...

Texas SAE Real Estate Brokerage Quiz Bank (Correctly Answered) | Latest 2023/2024 solutions The _____ is required to ascertain that Brokers are aware of all of their responsibilities. - Texas Real Estate Commission The _____ course is to address the regulatory aspects of the management, operation and supervision of a real estate brokerage firm in Texas. The course provides an understanding and working knowledge of a broker's responsibilities and obligations under 22 TAC §535.2. - Broke...

Texas Promulgated Contract Forms Questions & Answers 2023(A+GRADED 100%VERIFIED)