Promulgated Contract Forms final exam with correct solutions

Promulgated Contract Forms final exam with correct solutions. Void contract - answerIs invalided from the beginning and has no effect on the parties Voidable Contract - answerIs one that cannot be enforced against one or more parties One of the five essential that must exist for a contract to be valid and enforceable known as "mutual consent" is also known as? - answerOffer and acceptance What is NOT one of the requirements of a valid contract? - answerEarnest money When a contract is fully executed and all parties have performed this is known as? - answerExecutory contract Some common amendments to the original contract are? - answerChanges to the closing date Changes to the sales price, down payment and or amount financed Repairs that the seller agrees to perform What type of contracts are not assignable? - answerBuyers type of contracts are not assignable Listing agreement TREC has promulgated sales contract forms for? - answerResidential properties TREC can suspend or revoke a license holder license, if proof that the license holder drew a? - answerDeed Note Deed of trust Will License holder should not alter the pre- printed text of promulgated form, as the alteration be a? - answerUnlawful practice of law