Law of contracts exam 2 - Study guides, Class notes & Summaries

Champions Law of Contracts Exam 2

DEED - ANSWERSThe legal written document that conveys the intangible ownership rights (title) of a real estate property to another property. DEED OF TRUST - ANSWERSA security instrument that places the deed to the property in a trust held by the lender until a mortgage is paid off, when the trustee will transfer the deed to the borrower. TRUSTEE VS TRUSTOR - ANSWERSA trustee is an individual person given control of property in trust with a legal obligation to administer it solely for the p...

RECA Fundamentals Exam Questions and Answers Already Passed Which of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) Which of the following will occur to the supply of a good when ther...

Champion School of Real Estate-Law of Contracts Exam 2023. Texas Real Estate Commission - ANSWER TREC-created by the Legislature in 1949. 9 member commission whose primary purpose is to carry out the provision of the License Act Real Estate Recovery Trust Account - ANSWER administered by TREC. the purpose of the account is to protect aggrieved individuals who suffer monetary loss due to illegal acts of license holders unlawful practice of law - ANSWER license holder is not qualified to ad...

Life & Health Insurance Exam (Answered) With Complete Solution 100% Rated Insurance transfer of risk Speculative risk has a possibility of both loss and gain Pure risk only has a possibility of loss (no gain) Exposure risks for which an insurance company would be liable expressed in units Peril cause of a loss Hazard an increase in the chance of loss Moral hazard arise from people's character (faking a loss) Morale hazard state of mind or careless attitude (accidentally lea...

Bail Bonds Louisiana Exam With 100% Correct Answers 2023 Acquit - Correct Answer-to set free:to judicially discharge from an acquisition;to clear (a person) of a criminal charge Bail Enforcement - Correct Answer-the apprehension or surrender of a principal by a natural person who is released on bail or who has failed to appear at and state of the proceedings to answer to the charge before the court, in which he may be prosecuted obligor - Correct Answer-the party who owes the duty or debt...

Champion School of Real Estate-Law of Contracts Exam 2023. Texas Real Estate Commission - ANSWER TREC-created by the Legislature in 1949. 9 member commission whose primary purpose is to carry out the provision of the License Act Real Estate Recovery Trust Account - ANSWER administered by TREC. the purpose of the account is to protect aggrieved individuals who suffer monetary loss due to illegal acts of license holders unlawful practice of law - ANSWER license holder is not qualified to a...

TEST FOR ADJUSTER PRO, FLORIDA STUDY(QUESTIONS AND ANSWERS)A+ GRADED EXAM 2023-2024 - CORRECT ANSWER-Subtract the deductible from covered damages to get indemnification - CORRECT ANSWER-6 unique characteristics of insurance policy 1 Contracts of adhesion (court ez win) 2 Utmost good faith 3 aleatory 4 personal 5 Unilateral (only insurer has obligation) 6 Conditional - CORRECT ANSWER-1945 regulate insurance Naic doesn't give benefits to comissioners 90 day to pay hijacking on...

Champion School of Real Estate-Law of Contracts Exam 2023. Texas Real Estate Commission - ANSWER TREC-created by the Legislature in 1949. 9 member commission whose primary purpose is to carry out the provision of the License Act Real Estate Recovery Trust Account - ANSWER administered by TREC. the purpose of the account is to protect aggrieved individuals who suffer monetary loss due to illegal acts of license holders unlawful practice of law - ANSWER license holder is not qualified to ad...

Why do we need contract law? - anso Contracts define what we mean by a society based on the market and individual choice o Contracts provide enforcement mechanism for agreements that are performed in the future o Contracts provide a mechanism for working out problems that arise during or after performance How do you make a contract? - anso Reasonable Person Standard: Look to see whether a reasonable person would be justified in assuming tha ta person has mad a promise o Two Elements: c...