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PROMULGATED CONTRACTS Compiled quizzes | 250 Questions with 100% Correct Answers | Updated 2025 | Guaranteed A+
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Contract: - A legally binding and enforceable agreement to do or not to do a specific thing Promulgated Contract: - A contract that has been approved and is required to be used by license holders In Texas, what are the two entities that promulgate contracts? - TREC and TAR In a real estate sale, the license holder must use the appropriate TREC-promulgated form UNLESS another contract form is required by the buyer's lender. - FALSE (Explanation: In a real estate sale, the license holder must use the appropriate TREC-promulgated form UNLESS another contract form is required by the property owner. The buyer's lender has no influence over the sales contracts used in a transaction.)
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