Texas Promulgated
Contracts Exam
Questions Verified
and Provided with
A+ Graded Answers|
Latest Updated
2026
,The elements of a valid contract are, competent parties, consideration, legal
subject matter, in writing, and _.
(a)Default
(b) Mutual consent
(c)Property condition
(d) Recordin
gB
A(n)_____________contract is defined as a contract that is binding on the parties, with one
or more of the parties having contractual duties that have not yet been performed.
(a)Executory
(b)Executed
(c)Bilateral
(d) Void
A
,In the business of real estate,_______is defined as something given in exchange for a
promise.
(a) Consideration
(b) Mutual assent
(c)A bribe
(d) Legal subject
matter A
The TREC-promulgated contract forms:
(a) Are for optional use by real estate licensees
(b)Are drafted by the Broker-Lawyer Committee
(c)Are promulgated by the legislature
(d) Are used in both commercial and residential
transactions B
, In a lease with a "right of first refusal" provision:
(a) The price is set when the lease agreement is negotiated
(b)The tenant has promised to buy the property
(c)The TREC promulgated form must be used
(d)The tenant has the right to match or better any offer the landlord receives to
prevent the property from being sold to someone else
D
TREC has promulgated forms for:
(a)lease purchase transactions
(b)cooperatives
(c)right of first refusal
(d) residential
transactions D
An offer can be communicated by______________.
(a)Phone
(b) Hand delivery
(c)E-mail
(d)All of the
above D
Contracts Exam
Questions Verified
and Provided with
A+ Graded Answers|
Latest Updated
2026
,The elements of a valid contract are, competent parties, consideration, legal
subject matter, in writing, and _.
(a)Default
(b) Mutual consent
(c)Property condition
(d) Recordin
gB
A(n)_____________contract is defined as a contract that is binding on the parties, with one
or more of the parties having contractual duties that have not yet been performed.
(a)Executory
(b)Executed
(c)Bilateral
(d) Void
A
,In the business of real estate,_______is defined as something given in exchange for a
promise.
(a) Consideration
(b) Mutual assent
(c)A bribe
(d) Legal subject
matter A
The TREC-promulgated contract forms:
(a) Are for optional use by real estate licensees
(b)Are drafted by the Broker-Lawyer Committee
(c)Are promulgated by the legislature
(d) Are used in both commercial and residential
transactions B
, In a lease with a "right of first refusal" provision:
(a) The price is set when the lease agreement is negotiated
(b)The tenant has promised to buy the property
(c)The TREC promulgated form must be used
(d)The tenant has the right to match or better any offer the landlord receives to
prevent the property from being sold to someone else
D
TREC has promulgated forms for:
(a)lease purchase transactions
(b)cooperatives
(c)right of first refusal
(d) residential
transactions D
An offer can be communicated by______________.
(a)Phone
(b) Hand delivery
(c)E-mail
(d)All of the
above D
