Texas Promulgated Contracts
addenda—ANSWER--additions to a completed contract that specify
supplementary information to the contract
amendment—ANSWER--change or modification to an already agreed-upon
contract
bilateral contract—ANSWER--a contract wherein both parties are obligated
to perform in an exchange of promises
buyer rebate—ANSWER--anything during a transaction that causes money
to go back to the buyer, either at or after closing, without the knowledge of
the lender
casualty loss—ANSWER--a sudden, unexpected event like a fire, flood,
storm, earthquake that causes damage to a property
consideration—ANSWER--something of value exchanged by the parties as
evidence of agreement to the terms of a contract
, contract—ANSWER--a legally enforceable and binding agreement between
parties wherein a promise to do or not do something is given in exchange
for valuable consideration
counteroffer—ANSWER--a contract proposal submitted in response to a
previous offer, modifying the terms of the original offer; considered a
rejection of the original offer
disability—ANSWER--a physical or mental impairment that substantially
limits one or more major life activities, the record of such impairment, or
being regarded as having such an impairment
earnest money—ANSWER--funds paid to confirm or commit to a contract
effective date—ANSWER--the date a contract becomes binding between
the parties
endorsement—ANSWER--additional coverage that can be added onto an
insurance policy
escrow—ANSWER--a process in which funds and/or financial documents
are held by a disinterested third party on behalf of the other two parties in
the real estate transaction until specific conditions are satisfied
executed contract—ANSWER--a contract in which all terms have been
fulfilled by all parties
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Brittie Donald
addenda—ANSWER--additions to a completed contract that specify
supplementary information to the contract
amendment—ANSWER--change or modification to an already agreed-upon
contract
bilateral contract—ANSWER--a contract wherein both parties are obligated
to perform in an exchange of promises
buyer rebate—ANSWER--anything during a transaction that causes money
to go back to the buyer, either at or after closing, without the knowledge of
the lender
casualty loss—ANSWER--a sudden, unexpected event like a fire, flood,
storm, earthquake that causes damage to a property
consideration—ANSWER--something of value exchanged by the parties as
evidence of agreement to the terms of a contract
, contract—ANSWER--a legally enforceable and binding agreement between
parties wherein a promise to do or not do something is given in exchange
for valuable consideration
counteroffer—ANSWER--a contract proposal submitted in response to a
previous offer, modifying the terms of the original offer; considered a
rejection of the original offer
disability—ANSWER--a physical or mental impairment that substantially
limits one or more major life activities, the record of such impairment, or
being regarded as having such an impairment
earnest money—ANSWER--funds paid to confirm or commit to a contract
effective date—ANSWER--the date a contract becomes binding between
the parties
endorsement—ANSWER--additional coverage that can be added onto an
insurance policy
escrow—ANSWER--a process in which funds and/or financial documents
are held by a disinterested third party on behalf of the other two parties in
the real estate transaction until specific conditions are satisfied
executed contract—ANSWER--a contract in which all terms have been
fulfilled by all parties
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Brittie Donald
