Trec law of contracts - Study guides, Class notes & Summaries
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Law of Contracts Practice Exam Champions Questions and 100% Correct Answers
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Law of Contracts Practice Exam Champions Questions and 100% Correct Answers 
Law of Contracts Practice Exam Champions (100% Correct) In ______the Texas Real Estate Commission was established to administer and enforce the TRELA. a. 1939 b. 1929 c. 1949 d. 1993 - c. 1949 TREC has only _______ promulgated lease forms. a. 1 b. 2 c. 3 d. 4 - b. 2 In the TAR® Seller's Disclosure the seller should _______. a. prepare the disclosure when the listing is taken b. be the only one completing this form or...
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Principles of Real Estate Questions With Correct Answers.
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Principles of Real Estate Questions With Correct Answers. 
Texas Real Estate Agent 
A person who is licensed through TREC. 
Texas Real Estate Commission 
 
 
Does a person who manages, buys, sells, leases, or rents their own property have to be licensed through TREC? 
No. 
 
 
There are two types of licenses: 
broker's and salesperson's license 
 
 
What is the most popular division of the real estate market? 
Residential real estate because there are more transactions in residential in other...
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Law of Contracts Practice Exam Champions 100% QUESTIONS AND ANSWERS GRADED A+ Law of Contracts Practice Exam Champions (100% Correct)
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Law of Contracts Practice Exam Champions 100% 
QUESTIONS AND ANSWERS GRADED A+ 
Law of Contracts Practice Exam Champions 
(100% Correct) 
 
In ______the Texas Real Estate Commission was established to 
administer and enforce the TRELA. 
a. 1939 
b. 1929 
c. 1949 
d. 1993 - CORRECT ANSWER-c. 1949 
TREC has only _______ promulgated lease forms. 
a. 1 
b. 2 
c. 3 
d. 4 - CORRECT ANSWER-b. 2 
In the TAR® Seller's Disclosure the seller should _______. 
a. prepare the disclosure when the listing is ...
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Law of Contracts - Champions School of Real Estate Latest Version Graded A+
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Law of Contracts - Champions School of 
Real Estate Latest Version Graded A+ 
 
TERLA - Texas Real Estate License Act 
 
- Created in 1939 
 
TREC - Texas Real Estate Commission 
 
- Created in 1949 to administer/enforce TERLA 
 
Real Estate Center - Located at Texas A&M University 
 
- Created in 1970 
 
TREC-Promulgated Forms/Leases (Residential): - One-to-Four Family Residential Contract 
(Resale) 
 
- New Home Contract (Completed Construction) 
 
- Residential Condo Contract (Resale) 
 
- Ne...
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Law of Contracts - Champions School of Real Estate Exam Questions & Answers 100% Accurate!
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Law of Contracts - Champions School of Real Estate Exam Questions & Answers 100% Accurate! 
 
TERLA - ANSWER-- Texas Real Estate License Act 
 
- Created in 1939 
 
TREC - ANSWER-- Texas Real Estate Commission 
 
- Created in 1949 to administer/enforce TERLA 
 
Real Estate Center - ANSWER-- Located at Texas A&M University 
 
- Created in 1970 
 
TREC-Promulgated Forms/Leases (Residential): - ANSWER-- One-to-Four Family Residential Contract (Resale) 
 
- New Home Contract (Completed Construction)...
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Texas-Principles of Real Estate=1 Exam Practice Questions and Answers Verified 2023 - Champions School of Real Estate Texas - Principles 1 Exam Practice Questions and Answers Verified 2023 - Champions School of RealEstate Texas Principles 1 Exam Practi
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Texas-Principles of Real Estate=1 Exam 
Practice Questions and Answers Verified 2023 - 
Champions School of Real Estate 
Texas - Principles 1 Exam 
Practice Questions and Answers 
Verified 2023 - Champions 
School of RealEstate 
Texas Principles 1 Exam Practice Questions - Champions School of Real Estate 
1. a: Townhomes and single-family homes differ in that a common wall. 
(a) townhomes share 
(b) single-family homes are sold as distinct living units within (c) owners of townhomes do not 
o...
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Law of Contracts - Champions School of Real Estate Exam Questions and Answers 100% Verified
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Law of Contracts - Champions School of Real Estate Exam Questions and Answers 100% VerifiedLaw of Contracts - Champions School of Real Estate Exam Questions and Answers 100% VerifiedLaw of Contracts - Champions School of Real Estate Exam Questions and Answers 100% VerifiedTERLA - ANSWER-- Texas Real Estate License Act 
 
- Created in 1939 
 
TREC - ANSWER-- Texas Real Estate Commission 
 
- Created in 1949 to administer/enforce TERLA 
 
Real Estate Center - ANSWER-- Located at Texas A&M Universi...
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Law of Contracts - CHAMPIONS TEST|Latest Update Graded A+
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Law of Contracts - CHAMPIONS TEST|Latest Update Graded A+ 
The TREC residential contract forms are: 
Drafted by the Broker Lawyer Committee 
 
 
Wrongful or criminal deception intended to result in financial or personal gain is called: 
fraud 
 
 
Under the Deceptive Trade Practices Act, __________ are defined as tangible chattels. 
goods 
 
 
If a seller will continue to occupy the property for one month after the closing, the buyer and seller should: 
Enter into a Seller's Temporary Residenti...
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Champions School of Real Estate: Law of Contracts|208 Questions & Answers 100% Correct!.
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Champions School of Real Estate: Law of Contracts|208 Questions & Answers 100% Correct!.Texas Real Estate Commission - ANSWER-Created by the legislature in 1949 to carry out the provisions of TRELA 
 
Unauthorized Practice of Law - ANSWER-When license holders add provisions to contracts that go beyond the factual business details they are engaging in.. 
 
Deceptive Trade practices act - ANSWER- 
 
Real Estate Recovery Trust account - ANSWER-Administered by TREC, the purpose of the account is to ...
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LAW OF CONTRACTS CHAMPIONS EXAM 2024 WITH 300 REAL EXAM QUESTIONS AND CORRECT VERIFIED ANSWERS ALREADY GRADED A+ (BRAND NEW!!)
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LAW OF CONTRACTS CHAMPIONS EXAM 2024 WITH 300 REAL EXAM QUESTIONS AND CORRECT VERIFIED ANSWERS ALREADY GRADED A+ (BRAND NEW!!) 
The Special Provisions paragraph of the contract allows license holders to insert: - 
ANSWER-Factual business details, Statements not addressed in the contract, 
Information for which there is no TREC-promulgated addendum, lease or 
mandatory form 
There is no upper limit on the value of a Texas homestead. - ANSWER-true 
An offer by a prospective purchaser can be t...
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