Law of contracts exam - Study guides, Class notes & Summaries

Law of Contracts Exam 2 Questions and Detailed Correct Answers Latest Updated 2024/2025 | GRADE A+

Abstract of Title: (Ans- An abbreviated history of a property, including info on any transfers, grants, wills, conveyances, liens, and encumbrances. Example: Before Alice purchases the house on 1701 J J Solice Drive, she should ask for the property's abstract of title. Addendum: (Ans- An additional form attached to a real estate contract Example: Percy is adding an Addendum for Reservation of Oil, Gas, and Other Minerals to his ranch home sale because he wants to retain the rights ...

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MGMT 311 Exam III Questions and answers, VERIFIED. Chapter 12: Formation of Traditional and E-Contracts - -Chapter 12: Formation of Traditional and EContracts Function of Contract Law - -Contracts create expectations as to how parties to agreements will conduct themselves in the future If a party to a valid contract does not carry out a promise, a court will enforce the contract and provide some form of relief or remedy to the non-breaching party Contract law provides stability and pr...

LAW OF CONTRACTS EXAM REAL ESTATE ACEABLE, LATEST 2024/2025 | QUESTIONS AND ANSWERS |100% VERIFIED.

Describe at least two requirements under TRELA. (Ans- Act created by Texas Congress 1) All professionals are licensed 2) Use same policy, procedures, and forms. Providing correct documentations and forms during a transaction. TREC wanted to get things standardized. TREC was created in 1949 and that's when it began administrating TRELA. Real Estate Dealers license Act was enacted in 1939 for salesperson and brokers. TRELA is the present act which is active and administered until present day. ...

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