Aggrieved party - Study guides, Class notes & Summaries

What is the money in the Recovery Trust Account used for? A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction B) To pay commission that agents were wrongfully deprived of C) For taxes for the state of Texas D) For TREC to recover the funds to keep their computer systems up to date - A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction Wesley just bought a house with...

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 protect aggrieved individuals who suffer a monetary loss due to illegal acts of license ...

Civil Law : the body of law concerned with civil or private rights and remedies, as contrasted with criminal law which deals with wrongs against society. Tort : a private or civil wrong or injury, other than breach of contract, for which the court will provide a remedy in the form of an award for damages. Breach of Contract : is the failure, without legal excuse to perform any promise which forms the whole or part of the contract. Rule of Precedent : basic concept in common law in w...

LEG2601 Legal Aspects of Environmental Management 100 Marks 24 Hours THIS PAPER CONSISTS OF 6 (SIX) PAGES – INCLUDING INSTRUCTIONS. Honesty Declaration: In writing and submitting this paper you affirm that: 1. You understand what academic dishonesty entails and are aware of UNISA’s policies in this regard. 2. You have not allowed, and will not allow, anyone to copy your work with the intention of passing it off as his or her own work. 3. You did not make use of another ...

CA Real Estate Exam CH 1-15 Questions and Answers Filing an OFHEO complaint. - Complaints alleging fair housing violations must be filed with the Office of Fair Housing and Equal Opportunity within one year of the violation. HUD then initiates an investigation in conjunction with federal or local enforcement authorities. Filing suit. - In addition to or instead of filing a complaint with HUD, a party may file suit in state or federal court within two years of the alleged violation. If disc...

AYPO REAL ESTATE PRINCIPLES 1 Exam Questions Reviewed With Correct Answers The executive director shall give notice of the commissions order to the party under investigation. The notice must do which of the following? - State the amount of any penalty imposed -All of these -Inform the person of the rights to judicial review -Include the findings of fact and conclusions of law, separated stated - ANSWER : -All of these Public beach policy for the state of Texas Includes - ANSWE...

what is anticipatory repudiation? - Doctrine under which, when one party makes clear that party has no intention to perform as agreed, nonbreaching party is entitled to recover damages in anticipation of breach rather than waiting until performance is due. what are the five consent defects? - 1. Misrepresentation 2. Fraud 3. Duress 4. Undue influence 5. Unconscionability how did the Virginia state supreme court rule in Lucy v. Zehmer (1954)? - The court held that evidence from the trial...

Financial(monetary interest) Blood(a relative) Business(a business partner) 3 elements of insurable risk at the time of the loss In property and casualty insurance, insurable interest must exist __ ___ ____ __ ___ ____ insured anyone who is covered under the policy, whether named or not named insured the individual whose name appears on the policy's declaration first named insured the individual whose name appears first on the policy's declaration. add...

which of the following statements is true about the Kentucky Statute of frauds and the sale of real estate? - all essential terms of the contract must be in writing which of the following statements is true regarding Kentucky real estate brokerages? - the principal broker may choose to use designated agency, dual agency, without designated agency or no dual agency at the brokerage if the licensee can't pay or refuses to pay an aggrieved party after being found guilty of fraud in Kentucky, ...

What is the money in the Recovery Trust Account used for? A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction B) To pay commission that agents were wrongfully deprived of C) For taxes for the state of Texas D) For TREC to recover the funds to keep their computer systems up to date - correct answer -A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction Wesley just bou...