Law of Contracts - CHAMPIONS TEST
Study online at https://quizlet.com/_3nazmm
1. The TREC residential contract forms are: Drafted by the Broker
Lawyer Committee
2. Wrongful or criminal deception intended to result in fraud
financial or personal gain is called:
3. Under the Deceptive Trade Practices Act, __________ are goods
defined as tangible chattels.
4. If a seller will continue to occupy the property for one Enter into a Seller's Tem-
month after the closing, the buyer and seller should: porary Residential Lease
5. The Buyer and Seller Temporary Residential Lease 90 days
forms may be used for a lease period not to exceed:
6. a seller's disclosure notice is not required at a foreclosure sale
7. The type of law that deals with the relationship be- agency law
tween the parties to a transaction, sales agents and
brokers is:
8. __________ is the body of laws and regulations enacted statutory law
by federal and state legislative bodies.
9. __________ extend above the surface without limitation. air rights
10. Any man-made addition to land that is permanent, improvement
and is considered to become part of the land is known
as a(n) __________.
11. A(n) __________ is an entity created for the benefit of trust
another.
12. an option contract is: unilateral contract
, Law of Contracts - CHAMPIONS TEST
Study online at https://quizlet.com/_3nazmm
13. __________ is not a requirement of a valid contract. earnest money
14. If a person has been judged to be incompetent, a void
contract is __________ because the person never had
the capacity to enter into a contract in the first place.
15. The five essential elements of a valid and enforceable competent parties
contract are, Consideration, Offer and Acceptance, Le-
gal purpose, In writing and __________.
16. A(n) __________ is an agreement between two or more contract
parties to do something or to refrain from doing
something.
17. When an individual owns real property, he or she is freehold estate
said to have a (n) __________ in that property.
18. If property violates zoning, the owners must request variance
a __________, which is permission to violate the rules.
19. An example(s) of an appurtenance would be: easements
20. There is no upper limit on the value of a Texas home- true
stead.
21. A(n) __________ is an area of land separating one land buffer zone
use from another.
22. The French term __________ means a life estate that is pur autre vie
based on the life of another.
23. In a residential lease with a "right of first refusal" The tenant has the right
provision: to match or better any of-
fer the landlord receives
Study online at https://quizlet.com/_3nazmm
1. The TREC residential contract forms are: Drafted by the Broker
Lawyer Committee
2. Wrongful or criminal deception intended to result in fraud
financial or personal gain is called:
3. Under the Deceptive Trade Practices Act, __________ are goods
defined as tangible chattels.
4. If a seller will continue to occupy the property for one Enter into a Seller's Tem-
month after the closing, the buyer and seller should: porary Residential Lease
5. The Buyer and Seller Temporary Residential Lease 90 days
forms may be used for a lease period not to exceed:
6. a seller's disclosure notice is not required at a foreclosure sale
7. The type of law that deals with the relationship be- agency law
tween the parties to a transaction, sales agents and
brokers is:
8. __________ is the body of laws and regulations enacted statutory law
by federal and state legislative bodies.
9. __________ extend above the surface without limitation. air rights
10. Any man-made addition to land that is permanent, improvement
and is considered to become part of the land is known
as a(n) __________.
11. A(n) __________ is an entity created for the benefit of trust
another.
12. an option contract is: unilateral contract
, Law of Contracts - CHAMPIONS TEST
Study online at https://quizlet.com/_3nazmm
13. __________ is not a requirement of a valid contract. earnest money
14. If a person has been judged to be incompetent, a void
contract is __________ because the person never had
the capacity to enter into a contract in the first place.
15. The five essential elements of a valid and enforceable competent parties
contract are, Consideration, Offer and Acceptance, Le-
gal purpose, In writing and __________.
16. A(n) __________ is an agreement between two or more contract
parties to do something or to refrain from doing
something.
17. When an individual owns real property, he or she is freehold estate
said to have a (n) __________ in that property.
18. If property violates zoning, the owners must request variance
a __________, which is permission to violate the rules.
19. An example(s) of an appurtenance would be: easements
20. There is no upper limit on the value of a Texas home- true
stead.
21. A(n) __________ is an area of land separating one land buffer zone
use from another.
22. The French term __________ means a life estate that is pur autre vie
based on the life of another.
23. In a residential lease with a "right of first refusal" The tenant has the right
provision: to match or better any of-
fer the landlord receives
