Statute of frauds - Study guides, Class notes & Summaries

What is the form you sign that says you will pay the loan back ? -ANSWER promissory note What is the post licensing grace period after first expiration ? -ANSWER none Deposits is a form of... -ANSWER valuable consideration Physical land and improvements -ANSWER real property Is it a violation if a sales associate work for two brokers Monday-Friday, and Saturday and Sunday and getting paid commission from both -ANSWER Yes What is the maximum fine per offense ? -ANSWER $5,000 per fi...

SC REAL ESTATE REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED/ The ___ establishes an agency relationship between the prop owner as principal and the brokerage as agent - -listing agreement the LA does which of the following - -creates an agency relationship between the listing brokerage and the property owner a brokerage agreement whereby the property owner hires 1+ brokerages, agrees to compensate only 1 brokerage who produces a buyer, and reserves the right to sell by himself and...

An appraisal can be completed by which of the following? A home inspector A real estate broker A licensed appraiser using USPAP standards A mortgage loan originator - ANSWERA licensed appraiser using USPAP standards What is a BPO? Broker Price Opinion Best Practice Organization Best Prospective Offer Beyond Present Opportunities - ANSWERBroker Price Opinion Which of the following is incorrect? Farming methods include Direct Mail and Just Listed Post Cards. Farming only invo...

OhioRealEstateExamPracticeQuestions&AnswersLatest Update. May a consumer who has been harmed by a licensee acting under her license as a real estate salesperson or broker immediately file a claim for payment from the Real Estate Recovery Fund? - Correct Answer CORRECT ANSWER: No, the consumer must file a lawsuit, get a final judgment, and attempt to collect A listing agreement in which the agent may possibly be in competition with the client to see who can sell the house first is an exclu...

Classifying contracts: Express & Implied - ANSWERSExpress: Bilateral, executed Intentions stated (orally or written) Implied: Unilateral, executory Inferred from conduct or actions Classifying contracts: Bilateral & Unilateral - ANSWERSBilateral - two promises (both parties bound to do something) Unilateral - Only one party is bound Classifying Contracts: Executed & Executory - ANSWERSExecuted - All tasks performed (After closing) Executory - tasks remaining to be done (befor...

Wrongful or criminal deception intended to result in financial or personal gain is called: - CORRECT ANSWERS fraud The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to exceed: - CORRECT ANSWERS 90 days __________ extend above the surface without limitation. - CORRECT ANSWERS air rights An example(s) of an appurtenance would be: - CORRECT ANSWERS easements There is no upper limit on the value of a Texas homestead. - CORRECT ANSWERS true A(n) ...

RealEstateU- Texas Promulgated Contract Forms 235 Questions with 100% Correct Answers Verified Latest Updated 2024 The execution of a contract by which the contracting parties are automatically discharged of their obligations under it is known as...? - Performance Which of the following is an example of consideration? - Money, personal services, cash A State law requiring certain contracts to be in writing and signed before they will be enforceable at law is known as the? - Statute of Frauds Whi...

"$500 reward for the return of my dog, Ebony," is an offer to enter a bilateral contract. - ️️False. This is an offer to enter into a unilateral contract. Agreements signed by an employee before the employee begins to work that prevent him working for a competitor are also known as noncompete agreements or covenants not to compete. Are they enforceable? a. No, because there is no consideration for them to be signed. b. No, because they are a restraint of trade. c. Yes, they are a...

SC Real Estate Review 2024 Questions and Answers 100% Pass The ___ establishes an agency relationship between the prop owner as principal and the brokerage as agent - Correct Answer ️️ -listing agreement the LA does which of the following - Correct Answer ️️ -creates an agency relationship between the listing brokerage and the property owner a brokerage agreement whereby the property owner hires 1+ brokerages, agrees to compensate only 1 brokerage who produces a buyer, and reserve...

LEGL 2700 Test 2 Hackleman Questions and Answers | Latest Update | 2024/2025 | 100% Verified What is implied contract? An implied contract is an agreement inferred from the actions or conduct of the parties rather than from explicit words. What is novation in contract law? Novation is the replacement of an old contract with a new one, which may include the substitution of one party for another. What is statute of frauds? The statute of frauds requires certain types of co...