LAW OF CONTRACTS TEST BANK FULLY
SOLVED EDITION WITH ACCURATE
VERIFIED ANSWERS 2026
• abstract of title . Answer: an abbreviated history of a property,
including info on any transfers, grants, wills, conveyances, liens, and
encumbrances
• acceleration clause . Answer: clause in a security instrument
(mortgage/deed of trust) which makes the entire loan amount due
immediately upon default
• accessible . Answer: that which can be approached, entered, or viewed
without hazards, specialized equipment, or damaging property
• accession . Answer: refers to the acquisition of new land or real
property by artificial or natural means
• actual damages . Answer: monetary compensation given to an injured
party for losses that were a result of the actions or omissions of another
party
• actual notice . Answer: notice given to a specific party regarding the
ownership of a property
,• adaptation . Answer: the use and modification of a particular item for a
specific use in a property — specific use for a property could deem an
item as real property
• addenda . Answer: documents containing additional terms,
information, or obligations that are attached to a contract / a document
that's attached to a purchase agreement that includes additional
information or requests items not included in the purchase agreement
• agency . Answer: a relationship where one party is authorized to act on
behalf of the other
• air rights . Answer: ownership rights to the air above a property,
extending from the surface of the land up into space
• alienation . Answer: the process and act of transferring property from
one party to another
• allodial system . Answer: system of ownership in which land is owned
completely, without an obligation of services or duties to another
• amendment . Answer: a document that changes the terms in a sales
contract that has been previously agreed to by all the parties; requires all
parties to sign the amendment for it to be valid / a change in a legal
document made by adding, altering, or omitting a certain part or term
, • Americans with Disabilities Act . Answer: identified and defined
protected disabilities, as well as required all new buildings with
employees or public access to provide reasonable access for people with
protected disabilities
• annexation . Answer: attaching (or affixing) personal property to real
estate in a way that transforms the personal property into real property
• approved contracts . Answer: contracts that are allowed by the Texas
Real Estate Commission but not required
• assignment . Answer: the transference of obligations in a contract from
one party to another
• beneficiary . Answer: the recipient of advantage or gain from an act or
instrument such as a trust, will, or insurance policy
• bilateral . Answer: having or involving two sides, often with some
degree of reciprocal impact or obligation
• bill of sale . Answer: a certificate of transfer of personal property
• breach of contract . Answer: occurs when the terms or conditions of a
contract have been violated
SOLVED EDITION WITH ACCURATE
VERIFIED ANSWERS 2026
• abstract of title . Answer: an abbreviated history of a property,
including info on any transfers, grants, wills, conveyances, liens, and
encumbrances
• acceleration clause . Answer: clause in a security instrument
(mortgage/deed of trust) which makes the entire loan amount due
immediately upon default
• accessible . Answer: that which can be approached, entered, or viewed
without hazards, specialized equipment, or damaging property
• accession . Answer: refers to the acquisition of new land or real
property by artificial or natural means
• actual damages . Answer: monetary compensation given to an injured
party for losses that were a result of the actions or omissions of another
party
• actual notice . Answer: notice given to a specific party regarding the
ownership of a property
,• adaptation . Answer: the use and modification of a particular item for a
specific use in a property — specific use for a property could deem an
item as real property
• addenda . Answer: documents containing additional terms,
information, or obligations that are attached to a contract / a document
that's attached to a purchase agreement that includes additional
information or requests items not included in the purchase agreement
• agency . Answer: a relationship where one party is authorized to act on
behalf of the other
• air rights . Answer: ownership rights to the air above a property,
extending from the surface of the land up into space
• alienation . Answer: the process and act of transferring property from
one party to another
• allodial system . Answer: system of ownership in which land is owned
completely, without an obligation of services or duties to another
• amendment . Answer: a document that changes the terms in a sales
contract that has been previously agreed to by all the parties; requires all
parties to sign the amendment for it to be valid / a change in a legal
document made by adding, altering, or omitting a certain part or term
, • Americans with Disabilities Act . Answer: identified and defined
protected disabilities, as well as required all new buildings with
employees or public access to provide reasonable access for people with
protected disabilities
• annexation . Answer: attaching (or affixing) personal property to real
estate in a way that transforms the personal property into real property
• approved contracts . Answer: contracts that are allowed by the Texas
Real Estate Commission but not required
• assignment . Answer: the transference of obligations in a contract from
one party to another
• beneficiary . Answer: the recipient of advantage or gain from an act or
instrument such as a trust, will, or insurance policy
• bilateral . Answer: having or involving two sides, often with some
degree of reciprocal impact or obligation
• bill of sale . Answer: a certificate of transfer of personal property
• breach of contract . Answer: occurs when the terms or conditions of a
contract have been violated
