LAW OF CONTRACTS -
CHAMPIONS TEST EXAM
2024/2025 LATEST UPDATE
WITH
ACTUAL VERIFIED NGN
QUESTIONS AND WELL
EXPLAINED 100%
CORRECT ANSWERS WITH
RATIONALES LATEST 2025
UPDATE GRADED A+ WITH 100%
GUARANTEED SUCCESS AFTER
DOWNLOAD
Elmer Fleckenfleck, an agent with After Hours Realty, was preparing a contract. The seller
told Elmer that he wanted to stay in the property for at least a week after closing. Elmer said
that would be no problem and entered the following text to Paragraph 11: "Seller and Buyer
, agree that Seller will remain in the Property for 7 days after closing and funding." In this
case, Elmer has:
Engaged in the unlawful practice of law
The four economic characteristics of land are: scarcity, fixity, situs and ________.
modification
Joe is an agent at Tried and True Realty. He gets a $150,000 offer on a property that is listed
for $199,500. In a recent phone conversation, the seller told Joe he would accept no less than
$185,000 for the property. Knowing the seller's "bottom line," what should Joe do with the
offer?
Joe should present the offer to the seller
An abstract of title is:
a complete written history of title
an option is:
a unilateral contract
A seller is going to continue to occupy a property for two days after closing. In this case, the
parties should use the Buyer's Temporary Residential Lease form.
false
A contract in which only one party is obligated to perform is a________ contract.
unilateral
For tax prorations:
If taxes are not paid at or prior to closing the buyer shall pay for the current year, If taxes for
the current year vary from the amount prorated at closing, the parties shall adjust the
prorations when tax statements for the current year are available, The tax proration may be
calculated taking into consideration any change in the exemptions that will affect the current
year's taxes
________ is the right of the government to regulate and control the way land is used.
police power
A seller of coastal property abutting tidally influenced water must provide the ________.
Notice Regarding Coastal Area Property
RESPA prohibits ________, which is considered an abusive practice.
kickbacks
CHAMPIONS TEST EXAM
2024/2025 LATEST UPDATE
WITH
ACTUAL VERIFIED NGN
QUESTIONS AND WELL
EXPLAINED 100%
CORRECT ANSWERS WITH
RATIONALES LATEST 2025
UPDATE GRADED A+ WITH 100%
GUARANTEED SUCCESS AFTER
DOWNLOAD
Elmer Fleckenfleck, an agent with After Hours Realty, was preparing a contract. The seller
told Elmer that he wanted to stay in the property for at least a week after closing. Elmer said
that would be no problem and entered the following text to Paragraph 11: "Seller and Buyer
, agree that Seller will remain in the Property for 7 days after closing and funding." In this
case, Elmer has:
Engaged in the unlawful practice of law
The four economic characteristics of land are: scarcity, fixity, situs and ________.
modification
Joe is an agent at Tried and True Realty. He gets a $150,000 offer on a property that is listed
for $199,500. In a recent phone conversation, the seller told Joe he would accept no less than
$185,000 for the property. Knowing the seller's "bottom line," what should Joe do with the
offer?
Joe should present the offer to the seller
An abstract of title is:
a complete written history of title
an option is:
a unilateral contract
A seller is going to continue to occupy a property for two days after closing. In this case, the
parties should use the Buyer's Temporary Residential Lease form.
false
A contract in which only one party is obligated to perform is a________ contract.
unilateral
For tax prorations:
If taxes are not paid at or prior to closing the buyer shall pay for the current year, If taxes for
the current year vary from the amount prorated at closing, the parties shall adjust the
prorations when tax statements for the current year are available, The tax proration may be
calculated taking into consideration any change in the exemptions that will affect the current
year's taxes
________ is the right of the government to regulate and control the way land is used.
police power
A seller of coastal property abutting tidally influenced water must provide the ________.
Notice Regarding Coastal Area Property
RESPA prohibits ________, which is considered an abusive practice.
kickbacks
