Law of Contracts - CHAMPIONS TEST 202
Questions & Answers 100% Verified
1. Wrongful or criminal deception intended to result in financial or personalgain
is called:: Answer- fraud
2. The Buyer and SellerTemporary Residential Lease forms may be used for
alease period not to exceed:: Answer90 days
3. extend above the surface without limitation.: Answer- air rights
4. An example(s) of an appurtenance would be:: Answer- easements
5. There is no upper limit on the value of aTexas homestead.: Answer- true
6. A(n) is one that combines some of the elements of a sale witha lease.:
Answer- lease
purchase agreement
7. Which of the following requires a contract for the conveyance of real estateto
be in writing to be enforceable?:
Answer- statute of frauds
, Law of Contracts - CHAMPIONS TEST 202
Questions & Answers 100% Verified
8. If a broker receives more than one offer on a property:: Answer- All must be
presentedto the seller unless the seller
has instructed the broker otherwise
9. The most common form of financing used by buyers is:: Answer- third party
financing
10. A(n) is a provision in a contract that requires that a certain actor event
happens in order
for the contract to be binding on the party.: contin-gency
11. The Lead-Based Paint Disclosure is:: A federal requirement for
residentialproperty built prior to 1978
12. InTexas,real estate contracts are subjectto satisfactory inspections.: false
13. The term is synonymous with contingent.:subject to
14. Real estate agents play a role that includes arranging for the pre-qualifica-
tion / pre-approval of buyers.: true
3/4
Questions & Answers 100% Verified
1. Wrongful or criminal deception intended to result in financial or personalgain
is called:: Answer- fraud
2. The Buyer and SellerTemporary Residential Lease forms may be used for
alease period not to exceed:: Answer90 days
3. extend above the surface without limitation.: Answer- air rights
4. An example(s) of an appurtenance would be:: Answer- easements
5. There is no upper limit on the value of aTexas homestead.: Answer- true
6. A(n) is one that combines some of the elements of a sale witha lease.:
Answer- lease
purchase agreement
7. Which of the following requires a contract for the conveyance of real estateto
be in writing to be enforceable?:
Answer- statute of frauds
, Law of Contracts - CHAMPIONS TEST 202
Questions & Answers 100% Verified
8. If a broker receives more than one offer on a property:: Answer- All must be
presentedto the seller unless the seller
has instructed the broker otherwise
9. The most common form of financing used by buyers is:: Answer- third party
financing
10. A(n) is a provision in a contract that requires that a certain actor event
happens in order
for the contract to be binding on the party.: contin-gency
11. The Lead-Based Paint Disclosure is:: A federal requirement for
residentialproperty built prior to 1978
12. InTexas,real estate contracts are subjectto satisfactory inspections.: false
13. The term is synonymous with contingent.:subject to
14. Real estate agents play a role that includes arranging for the pre-qualifica-
tion / pre-approval of buyers.: true
3/4
