Condition precedent Study guides, Class notes & Summaries

Humber Real Estate - Course 2, Module 17, Writing Conditions to be Included in an Agreement of Purchase Sale 2023 Questions and Answers Binding agreement When an offer doesn't contain any conditions, it's a _________ _________ once accepted by all parties. - Condition precedent - Condition subsequent What methods can be used to draft conditions? A true condition precedent. If a party is not permitted to waive a condition and is required to fulfill the condition, what is this called? ...

Law of Large numbers correct answers Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest correct answers Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and casualty insurance Risk correct answers Chance of loss; uncertainty of loss Speculative Risk correct answers Involves the simultaneous chance of gain or loss: is not insurable Pure Risk correct answers a risk...

Humber Real Estate - Course 2, Module 17, Writing Conditions to be Included in an Agreement of Purchase Sale Binding agreement - When an offer doesn't contain any conditions, it's a _________ _________ once accepted by all parties. - Condition precedent - Condition subsequent - What methods can be used to draft conditions? A true condition precedent. - If a party is not permitted to waive a condition and is required to fulfill the condition, what is this called? A condition in an agr...

The Salesperson can obtain information and verify using the following sources: - listing data sheet, including by contacting the listing Salesperson - various source documents, such as a deed, survey - seller's disclosure document regarding property conditions - seller's pre-listing home inspection, if available - online information available from the municipality - Answer When preparing the "offer plan" before drafting the offer, how information can be obtained and verified by the ...

Humber Real Estate - Course 2, Module 17, Writing Conditions to be Included in an Agreement of Purchase Sale 2023 Questions and Answers Binding agreement When an offer doesn't contain any conditions, it's a _________ _________ once accepted by all parties. - Condition precedent - Condition subsequent What methods can be used to draft conditions? A true condition precedent. If a party is not permitted to waive a condition and is required to fulfill the condition, what is this called? ...

LCP4805 EXAM PACK 2023 QUESTIONS AND ANSWERS. What was the nature and implications of the ruling in South Africa‟s first climate change case? (10) [20] South Africa’s First Climate Change Case Earthlife Africa Johannesburg v. The Minister of Environmental Affairs and others In this case the High Court of South Africa, Gauteng Division, Pretoria ruled in favour of Earthlife Africa Johannesburg on the basis that when granting an environmental authorisation (EA) to the Thabametsi Power Pr...

The brokerage - ANSWER-As a salesperson, you may not be required to prepare a trade record sheet. They are typically done by who? True. Any changes must be in a new document called an amendment. Only the altered or amended term(s) are written in the new document, and it's meant to be read in conjunction with the existing agreement. - ANSWER-True or false? When an offer has been accepted, there can be no change to the document. Irrevocable time period - ANSWER-Just like an agreement ...

CAIB 3 Practice Exam Questions and Answers Already Passed What is the name given to the collection of written decisions? Case Law Explain the concept of the Rule of Precedent. Current court decisions must follow those made in cases having similar circumstances, which allows the development of a logical body of general principles against which specific cases to be compared. Explain the meaning of the term "damages". Compensation in money for the loss or damage suffered. Compen...

USAA Licensing Exam QUESTIONS CORRECTLY ANSWERED Insurance - ANSWER Transfer of risk from one person or organization to an insurance company What is Indemnity? - ANSWER The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers - ANSWER Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest - ANSWER Proof that someone stands to lose financially if a loss occurs; must exist at t...

PROPERTY Ownership Ownership of real property may be transferred by sale, gift, upon death by devise (will) or intestate succession. - Present Possessory (Freehold) Estate: an estate must be immobile and for an indeterminate duration; the owner has the right to currently possess the property - Future Interests: an interest in presently existing property or in a gift or trust; the use, possession, or enjoyment may start sometime in the future - Concurrent Estate: ownership or possession of r...