LAW OF CONTRACTS COMPREHENSIVE PREP AND PREVIEW ACTUAL QUESTIONS AND ACTUAL DETAILED SOLUTIONS ALREADY GRADED A+ LATEST!!

LAW OF CONTRACTS
COMPREHENSIVE PREP AND PREVIEW
ACTUAL QUESTIONS AND ACTUAL
DETAILED SOLUTIONS ALREADY
GRADED A+ LATEST!!
For a sum of money negotiated between the parties, the buyer has a time period,
stated in this paragraph, for the "unrestricted right" to terminate. Which paragraph
does this reference?:


a. sales price paragraph
b. earnest money paragraph
c. option money paragraph
d. repairs escrow paragraph
c. option money paragraph




With regard to common mistakes on contracts, it is recommended that the seller's
name be used on the contract as it is named in the ____________.


a. deeds
b. previous contract when they bought the house
c. survey
d. mortgagee's title company
a. deed

,In an S Corporation, the earnings of the shareholders are ______________.


a. deferred
b. taxed
c. automatically put into a tax free IRA
d. shifted to a C Corporation if there are profits in the S Corporation
b. taxed




TREC exists to protect:


a. real estate agents
b. the citizens of texas
c. real estate brokers
d. lenders, appraisers, and all licensees
b. The citizens of Texas




What is the law that established the Texas Real Estate Commission?


a. TREC
b. TRELA
c. TAR
d. TCEQ

, B. TRELA




All of the following are reasons that contracts may terminate EXCEPT:


a. fraud
b. misrepresentation
c. when there is a suit for specific performance
d. previous agreement
c.




What kind of law is handed down by the legislature?


a. agency law
b. common law
c. TREC
d. statutory law
d. Statutory law




Land and all items attached to the property are considered:


a. attachments
b. real property