LAW OF CONTRACTS - CHAMPIONS
TEST EXAM 2025 QUESTIONS AND
ANSWERS
The TREC residential contract forms are: - ANS Drafted by the Broker Lawyer Committee
Wrongful or criminal deception intended to result in financial or personal gain is called: -
ANS fraud
Under the Deceptive Trade Practices Act, __________ are defined as tangible chattels. -
ANS goods
If a seller will continue to occupy the property for one month after the closing, the buyer and
seller should: - ANS Enter into a Seller's Temporary Residential Lease
The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to
exceed: - ANS 90 days
a seller's disclosure notice is not required - ANS at a foreclosure sale
The type of law that deals with the relationship between the parties to a transaction, sales
agents and brokers is: - ANS agency law
__________ is the body of laws and regulations enacted by federal and state legislative bodies.
- ANS statutory law
1 @COPYRIGHT THEBRIGHT 2025/2026
, __________ extend above the surface without limitation. - ANS air rights
Any man-made addition to land that is permanent, and is considered to become part of the
land is known as a(n) __________. - ANS improvement
A(n) __________ is an entity created for the benefit of another. - ANS trust
an option contract is: - ANS unilateral contract
__________ is not a requirement of a valid contract. - ANS earnest money
If a person has been judged to be incompetent, a contract is __________ because the person
never had the capacity to enter into a contract in the first place. - ANS void
The five essential elements of a valid and enforceable contract are, Consideration, Offer and
Acceptance, Legal purpose, In writing and __________. - ANS competent parties
A(n) __________ is an agreement between two or more parties to do something or to refrain
from doing something. - ANS contract
When an individual owns real property, he or she is said to have a (n) __________ in that
property. - ANS freehold estate
If property violates zoning, the owners must request a __________, which is permission to
violate the rules. - ANS variance
An example(s) of an appurtenance would be: - ANS easements
2 @COPYRIGHT THEBRIGHT 2025/2026
TEST EXAM 2025 QUESTIONS AND
ANSWERS
The TREC residential contract forms are: - ANS Drafted by the Broker Lawyer Committee
Wrongful or criminal deception intended to result in financial or personal gain is called: -
ANS fraud
Under the Deceptive Trade Practices Act, __________ are defined as tangible chattels. -
ANS goods
If a seller will continue to occupy the property for one month after the closing, the buyer and
seller should: - ANS Enter into a Seller's Temporary Residential Lease
The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to
exceed: - ANS 90 days
a seller's disclosure notice is not required - ANS at a foreclosure sale
The type of law that deals with the relationship between the parties to a transaction, sales
agents and brokers is: - ANS agency law
__________ is the body of laws and regulations enacted by federal and state legislative bodies.
- ANS statutory law
1 @COPYRIGHT THEBRIGHT 2025/2026
, __________ extend above the surface without limitation. - ANS air rights
Any man-made addition to land that is permanent, and is considered to become part of the
land is known as a(n) __________. - ANS improvement
A(n) __________ is an entity created for the benefit of another. - ANS trust
an option contract is: - ANS unilateral contract
__________ is not a requirement of a valid contract. - ANS earnest money
If a person has been judged to be incompetent, a contract is __________ because the person
never had the capacity to enter into a contract in the first place. - ANS void
The five essential elements of a valid and enforceable contract are, Consideration, Offer and
Acceptance, Legal purpose, In writing and __________. - ANS competent parties
A(n) __________ is an agreement between two or more parties to do something or to refrain
from doing something. - ANS contract
When an individual owns real property, he or she is said to have a (n) __________ in that
property. - ANS freehold estate
If property violates zoning, the owners must request a __________, which is permission to
violate the rules. - ANS variance
An example(s) of an appurtenance would be: - ANS easements
2 @COPYRIGHT THEBRIGHT 2025/2026
