Executory contract - 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 - 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

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...

Massachusetts Real Estate Exam 2 Questions with Correct Answers Brokers Authority to prepare documents - Answer-Fill in blanks...do not fill in Legal language Expressed vs. Implied Contracts - Answer-Expressed (sellers signing a marketing contract) Implied ( if you bring me a buyer I will pay you 3%) Another example; If you cash a rent check while tenant in sufferage you are implying that you have a lease Executory and Executed Contracts - Answer-Executory (something still remains to be ...

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

Business Law REG Exam Questions & Answers 2024/2025 Define Bilateral contract - ANSWERSA bilateral contract is a promise in exchange for a promise creating a contract. Define executory contract - ANSWERSAn executory contract is one not fully performed. What are four requirements for a *valid contract*? - ANSWERSoffer and acceptance, consideration (computer for $400), nothing to indicate either party lacks legal capacity, and in legal purpose. Define unilateral contract - ANSWERSan ...

Oklahoma Real Estate Broker Exam Ch 18-26 Questions and Answers Already Passed A Brick fence straddles the property line of two neighbors. The neighbors agree not to damage it in any way. This is an example of: A Party Wall. A court renders a judgement which authorizes a lien to be placed against the defendant's house, car and personal belongings. This is an example of A general judgement lien. Among junior liens, the order or priority is generally established accordint to the da...

ASREB Test Questions and Answers 100% Verified A borrower is required to put 10% down for the purchase of a property. The 10% down would be considered... Answer-Equity A broker, acting as a property manager, would be considered what type of agent? Answer-General A contract has been signed, but title has not yet been passed. The contract is... AnswerExecutory A house cost $100,000. The buyer is making a down payment of 32,000 and getting a $68,000 loan. If there are 4 points, how much...

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 - ANSWER D) Executory contract 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 - ANSWER D) Estate for years The TREC ONE-TO-FOUR RESIDENTIAL RESALE CONTRACT requires the seller to deliver__________ to the b...

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...

TEXAS PROMULGATED CONTRACTS- CHAMPIONS FINAL EXAM STUDY GUIDE 2024/COMPLETE QUESTIONS WITH CORRECT DETAILED ANSERS/A+ GRADE 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 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