ILLINOIS LEASING AGENT AND CONSTITUTION NEWEST ACTUAL
2025/2026 TEST EXAM WITH COMPLETE QUESTIONS ANSWERS
VERIFIED/GRADED A+
Destruction Clause
A lease clause that describes what rights and responsibilities the
lessor and lessee have if the premises is partially or completely
destroyed.
Discharged Contract
A contract in which all of the terms of have been fulfilled, also
called an "executed contract."
Dual Agency
The practice of representing both the buyer/lessee and the
seller/lessor in a real estate transaction.
Duress
The use of force to induce another to act against his/her will.
,Eminent Domain
Government police power that allows the taking of private
property for public purpose.
Exclusive Brokerage Agreement
A written agreement between a sponsoring broker and a client
who will receive exclusive representation.
Executed Contract
A contract in which all of the terms have been fulfilled
Executory Contract
A contract in which all of the terms have not been fulfilled
Express Contract
Specific oral or written agreements of two or more parties.
, Fair Housing Act
Title VIII of the Civil Rights Act of 1968. This act bans
discrimination on the basis of race, color, sex, religion, national
origin, disability and familial status.
Fair Housing Amendments
Act of 1988
additions to the act include families with children (referred to as
"familial status") and handicapped persons in real estate
activities.
Fixture
Personal property that becomes real property when it is
permanently affixed to the land. It is included in the lease or sale
of land unless otherwise specified.
Fraud
When one party intentionally misrepresents or conceals facts
relevant to the contract. When fraud is committed, the contract is
enforceable or voidable by only the injured party.
2025/2026 TEST EXAM WITH COMPLETE QUESTIONS ANSWERS
VERIFIED/GRADED A+
Destruction Clause
A lease clause that describes what rights and responsibilities the
lessor and lessee have if the premises is partially or completely
destroyed.
Discharged Contract
A contract in which all of the terms of have been fulfilled, also
called an "executed contract."
Dual Agency
The practice of representing both the buyer/lessee and the
seller/lessor in a real estate transaction.
Duress
The use of force to induce another to act against his/her will.
,Eminent Domain
Government police power that allows the taking of private
property for public purpose.
Exclusive Brokerage Agreement
A written agreement between a sponsoring broker and a client
who will receive exclusive representation.
Executed Contract
A contract in which all of the terms have been fulfilled
Executory Contract
A contract in which all of the terms have not been fulfilled
Express Contract
Specific oral or written agreements of two or more parties.
, Fair Housing Act
Title VIII of the Civil Rights Act of 1968. This act bans
discrimination on the basis of race, color, sex, religion, national
origin, disability and familial status.
Fair Housing Amendments
Act of 1988
additions to the act include families with children (referred to as
"familial status") and handicapped persons in real estate
activities.
Fixture
Personal property that becomes real property when it is
permanently affixed to the land. It is included in the lease or sale
of land unless otherwise specified.
Fraud
When one party intentionally misrepresents or conceals facts
relevant to the contract. When fraud is committed, the contract is
enforceable or voidable by only the injured party.
