Since a counteroffer - Study guides, Class notes & Summaries

A contract may be based on a promise not to do something. (T/F) - True You return a lost dog to its owner. You did not know a reward was being offered for the dog. You do not have a legal right to the reward. (T/F) - True You leave your poodle at a new grooming shop and tell them to wash the dog⎯a $30 service. They do that and also paint the poodle's nails and tie ribbons in his hair⎯these services are an extra $10. You pay them for the wash. What about the extra $10 in services? a....

An agent's duties to third parties include all the following EXCEPT A) fairness. B) obedience. C) disclosure of material fact. D) honesty. - answer-B) obedience. Derrin hires Austin with Best Homes Realty to list his home for sale. As Austin is completing the listing agreement, Derrin mentions that the hot water heater has not worked for a couple of weeks and is not planning on repairing it since he is selling the home. Derrin tells Austin that he cannot share that information with an...

In the State of Texas who is allowed to use a customized real estate contract? The real estate brokerage company The salesperson The broker Lawyers licensed to practice in Texas - Answer- Lawyers licensed to practice in Texas Marcy is 17 and married. Her spouse is stationed in the Middle East. She purchased a home shortly before Stan, her husband returns to the United States. Select a problem that exists with this situation. Offer and acceptance issue Competency issue Consideration iss...

Law 3220 Clemson Exam 3 – Jahn (2023/2024) Already Passed A contract may be based on a promise not to do something. (T/F) True You return a lost dog to its owner. You did not know a reward was being offered for the dog. You do not have a legal right to the reward. (T/F) True You leave your poodle at a new grooming shop and tell them to wash the dog⎯a $30 service. They do that and also paint the poodle's nails and tie ribbons in his hair⎯these services are an extra $10. You pay them for...

Practice Midterm –Rockwell questions with correct answers For which of the following acts might a broker be subject to disciplinary action? a. Failing to include a termination date in an exclusive listing agreement b. Failing to include a termination date in an open listing agreement c. Keeping trust funds from different clients in a single trust account d. Basing a commission amount on the property's selling price Correct Answer-a. Failing to include a termination date in an exc...

A buyer and seller agree to prorate the cost of lawn maintenance, cleaning fees, and related services on a property. The cost prepaid by the seller is $450 for the month of June. The closing date is June 20, with the seller paying for the day of closing. How much does the buyer owe? B. 150$ The seller has into a the listing appointment the seller asks the broker not to disclosure the period treatment repair since they're know corrected the broker should B. Insist that the seller disclose the...

Rockwell Real Estate Exam WA 2 questions with correct answers At what point in a transaction must you disclose your agency status in writing? Correct Answer--Before a party signs an offer You must disclose your agency status to each party in a transaction as soon as practicable. However, the initial disclosure may be oral - the law doesn't require written confirmation of the agency disclosure until each party is about to sign an offer. A counteroffer: Correct Answer--Acts as a rejection ...

Rockwell Real Estate Exam WA 2 questions with correct answers A counteroffer: A. acts as a rejection of the initial offer B. is used to rescind a previously existing contract C. is used only to make an offer contingent on a particular event D. is used when a buyer wants to make an offer where the seller has already accepted an offer Correct Answer-A. acts as a rejection of the initial offer A counteroffer is a rejection of the previous offer. Either a buyer or a seller may make a count...

Rockwell Real Estate Exam WA 2 A counteroffer: A. acts as a rejection of the initial offer B. is used to rescind a previously existing contract C. is used only to make an offer contingent on a particular event D. is used when a buyer wants to make an offer where the seller has already accepted an offer - answerA. acts as a rejection of the initial offer A counteroffer is a rejection of the previous offer. Either a buyer or a seller may make a counteroffer, in response to either the initi...

What is the essential purpose of legal descriptions of real property? a) To create a consistent, unchanging standard for uniquely locating a property. b) To enable courts and attorneys to calculate property size accurately. c) To comply with common law for real property. d) To eliminate cumbersome metes and bounds description. - a) To create a consistent, unchanging standard for uniquely locating a property. A county or municipal authority usually grants a certificate of occupancy for new ...