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Law of Contracts - Champions School of Real Estate

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TERLA - ans- Texas Real Estate License Act - Created in 1939 TREC - ans- Texas Real Estate Commission - Created in 1949 to administer/enforce TERLA Real Estate Center - ans- Located at Texas A&M University - Created in 1970 TREC-Promulgated Forms/Leases (Residential): - ans- One-to-Four Family Residential Contract (Resale) - Un - New Home Contract (Completed Construction) - Residential Condo Contract (Resale) - New Home Contract (Incomplete Construction) improved Property Contract - Farm and Ranch (Note: TREC has promulgated contract addenda and other forms, listed on Thepage 18) Four categories of unlawful trade practices are: - ans1 - Misleading or deceptive conduct employed by any person that was relied upon by the consumer to the consumer's detriment

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