Law of Contracts - CHAMPIONS TEST
2025/2026 Exam Questions and Correct
Answers | New Update
Wrongful or criminal deception intended to result in financial or personal
gain is called: - 🧠 ANSWER ✔✔fraud
The Buyer and Seller Temporary Residential Lease forms may be used for
a lease period not to exceed: - 🧠 ANSWER ✔✔90 days
__________ extend above the surface without limitation. - 🧠 ANSWER
✔✔air rights
An example(s) of an appurtenance would be: - 🧠 ANSWER ✔✔easements
There is no upper limit on the value of a Texas homestead. - 🧠 ANSWER
✔✔true
, A(n) __________ is one that combines some of the elements of a sale with
a lease. - 🧠 ANSWER ✔✔lease purchase agreement
Which of the following requires a contract for the conveyance of real estate
to be in writing to be enforceable? - 🧠 ANSWER ✔✔statute of frauds
If a broker receives more than one offer on a property: - 🧠 ANSWER ✔✔All
must be presented to the seller unless the seller has instructed the broker
otherwise
The most common form of financing used by buyers is: - 🧠 ANSWER
✔✔third party financing
A(n) __________ is a provision in a contract that requires that a certain act
or event happens in order for the contract to be binding on the party. - 🧠
ANSWER ✔✔contingency
The Lead-Based Paint Disclosure is: - 🧠 ANSWER ✔✔A federal
requirement for residential property built prior to 1978
In Texas, real estate contracts are subject to satisfactory inspections. - 🧠
ANSWER ✔✔false
2025/2026 Exam Questions and Correct
Answers | New Update
Wrongful or criminal deception intended to result in financial or personal
gain is called: - 🧠 ANSWER ✔✔fraud
The Buyer and Seller Temporary Residential Lease forms may be used for
a lease period not to exceed: - 🧠 ANSWER ✔✔90 days
__________ extend above the surface without limitation. - 🧠 ANSWER
✔✔air rights
An example(s) of an appurtenance would be: - 🧠 ANSWER ✔✔easements
There is no upper limit on the value of a Texas homestead. - 🧠 ANSWER
✔✔true
, A(n) __________ is one that combines some of the elements of a sale with
a lease. - 🧠 ANSWER ✔✔lease purchase agreement
Which of the following requires a contract for the conveyance of real estate
to be in writing to be enforceable? - 🧠 ANSWER ✔✔statute of frauds
If a broker receives more than one offer on a property: - 🧠 ANSWER ✔✔All
must be presented to the seller unless the seller has instructed the broker
otherwise
The most common form of financing used by buyers is: - 🧠 ANSWER
✔✔third party financing
A(n) __________ is a provision in a contract that requires that a certain act
or event happens in order for the contract to be binding on the party. - 🧠
ANSWER ✔✔contingency
The Lead-Based Paint Disclosure is: - 🧠 ANSWER ✔✔A federal
requirement for residential property built prior to 1978
In Texas, real estate contracts are subject to satisfactory inspections. - 🧠
ANSWER ✔✔false
