Law of Contracts Exam Questions With Accurate Solutions.
An instrument conveying real property may not be recorded unless it is
signed and acknowledged or sworn to by the: - accurate answers-Grantor
The legal instrument that secures the payment for the debt is called the
_____________________________. - accurate answers-Deed of trust
Location of the property. - accurate answers-Situs
Sources of forms available for use by the Real Estate agent who has become a
Realtor includes which of the following? - accurate answers-A) TREC
B) TAR
C) Lawyers
D) ALL OF THE ABOVE
Physical characteristics of the property does include: - accurate answers-Non-
homogeneity, immobility, indestructibility
Forms of INVOLUNTARY ALIENATION? - accurate answers-Eminent domain.
adverse possession, escheat
This is also called a non-freehold estate. - accurate answers-Leasehold estate
Examples of this include lack of appraisal, financing or completed repairs. -
accurate answers-Executory contract
When a seller and a buyer wish to convey personal property, this is done with
a: - accurate answers-Bill of sale
A form of ownership where the owner receives shares. - accurate answers-
Cooperatives
Which of the following does not terminate a contract? - accurate answers-A)
Assignment - Answer
B) Mutual consent
C) Completion of purpose
D) Default
, The TREC ONE-TO-FOUR RESIDENTIAL RESALE CONTRACT requires the
seller to deliver__________ to the buyer at closing. - accurate answers-General
warranty deed
Buyer's agency agreements can be created in which of the following ways? -
accurate answers-Express oral agreement & Implied agency
A failure to perform. A break. A refusal to honor a promise. - accurate
answers-Breach
It is NOT possible to transfer title to property in Texas without recording the
deed in public records. - accurate answers-False
A thing added to the offer. - accurate answers-Addenda
Paragraph 6 of the ONE-TO-FOUR RESIDENTIAL RESALE contract talks about
the survey. In order to fully comply with this paragraph, the buyer must
provide both the survey and the T-47. - accurate answers-False
This type of lease provides that if a tenant achieves a certain amount of gross
sales in a given year, a percentage of such gross sales will be paid to the
landlord as additional rent. - accurate answers-Percentage lease
Sale of a property where the lender agrees to settle for less than the amount
owed on the property. - accurate answers-Short sale
Which of the following is not required to make the STATUTE OF FRAUDS
enforceable? - accurate answers-A) The agreement must be in writing
B) The agreement must contain a promise or agreement
C) The agreement must be recorded at the county - Answer
D) The agreement must be signed by the person being charged
A burden, obstruction or impediment on property. - accurate answers-
Encumbrance
Which of the following practices could be considered practicing law by a real
estate broker for the sale or lease of real property? - accurate answers-Use of
a form prepared by the broker's company
An instrument conveying real property may not be recorded unless it is
signed and acknowledged or sworn to by the: - accurate answers-Grantor
The legal instrument that secures the payment for the debt is called the
_____________________________. - accurate answers-Deed of trust
Location of the property. - accurate answers-Situs
Sources of forms available for use by the Real Estate agent who has become a
Realtor includes which of the following? - accurate answers-A) TREC
B) TAR
C) Lawyers
D) ALL OF THE ABOVE
Physical characteristics of the property does include: - accurate answers-Non-
homogeneity, immobility, indestructibility
Forms of INVOLUNTARY ALIENATION? - accurate answers-Eminent domain.
adverse possession, escheat
This is also called a non-freehold estate. - accurate answers-Leasehold estate
Examples of this include lack of appraisal, financing or completed repairs. -
accurate answers-Executory contract
When a seller and a buyer wish to convey personal property, this is done with
a: - accurate answers-Bill of sale
A form of ownership where the owner receives shares. - accurate answers-
Cooperatives
Which of the following does not terminate a contract? - accurate answers-A)
Assignment - Answer
B) Mutual consent
C) Completion of purpose
D) Default
, The TREC ONE-TO-FOUR RESIDENTIAL RESALE CONTRACT requires the
seller to deliver__________ to the buyer at closing. - accurate answers-General
warranty deed
Buyer's agency agreements can be created in which of the following ways? -
accurate answers-Express oral agreement & Implied agency
A failure to perform. A break. A refusal to honor a promise. - accurate
answers-Breach
It is NOT possible to transfer title to property in Texas without recording the
deed in public records. - accurate answers-False
A thing added to the offer. - accurate answers-Addenda
Paragraph 6 of the ONE-TO-FOUR RESIDENTIAL RESALE contract talks about
the survey. In order to fully comply with this paragraph, the buyer must
provide both the survey and the T-47. - accurate answers-False
This type of lease provides that if a tenant achieves a certain amount of gross
sales in a given year, a percentage of such gross sales will be paid to the
landlord as additional rent. - accurate answers-Percentage lease
Sale of a property where the lender agrees to settle for less than the amount
owed on the property. - accurate answers-Short sale
Which of the following is not required to make the STATUTE OF FRAUDS
enforceable? - accurate answers-A) The agreement must be in writing
B) The agreement must contain a promise or agreement
C) The agreement must be recorded at the county - Answer
D) The agreement must be signed by the person being charged
A burden, obstruction or impediment on property. - accurate answers-
Encumbrance
Which of the following practices could be considered practicing law by a real
estate broker for the sale or lease of real property? - accurate answers-Use of
a form prepared by the broker's company
