Texas Promulgated Contract Forms Questions and Answers
Which of the following mean that the offer and acceptance was genuine and freely made by all parties? Mutual consent Offer and acceptance Genuine assent None of the choices apply - Answer-C What document should an assignor use to be released entirely from any obligations or secondary liability? Assignment Cancellation Novation Revocation - Answer-C If the assignor wants to be released entirely from any obligation or secondary liability for the contract, it may be done by novation. Novation is the substitution, by agreement, of a new obligation for an existing one, with the intent to terminate the original contract. Broker Donna released Bob from a listing agreement with no further obligations to broker Donna. What type of release is this? Consideration Conditional Unilateral Unconditional - Answer-D An unconditional release is a complete release and no further obligations are owed by either party. What rule prohibits introducing any kind of outside evidence to vary or add to the terms of deeds, contracts or other writings once executed? The parol evidence rule The statute of limitations The statute of frauds The four corners doctrine - Answer-A The _______________ is a promulgated disclosure.
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