LAW OF CONTRACTS CHAMPIONS
TEST 2026 STUDY GUIDE AND
PRACTICE QUESTIONS AND
VERIFIED CORRECT ANSWERS
100% PASS
Wrongful or criminal deception intended to result in financial or personal gain is
called:
fraud
The Buyer and Seller Temporary Residential Lease forms may be used for a lease
period not to exceed:
90 days
__________ extend above the surface without limitation.
air rights
An example(s) of an appurtenance would be:
easements
There is no upper limit on the value of a Texas homestead.
true
, A(n) __________ is one that combines some of the elements of a sale with a lease.
lease purchase agreement
Which of the following requires a contract for the conveyance of real estate to be
in writing to be enforceable?
statute of frauds
If a broker receives more than one offer on a property:
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:
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.
contingency
The Lead-Based Paint Disclosure is:
A federal requirement for residential property built prior to 1978
TEST 2026 STUDY GUIDE AND
PRACTICE QUESTIONS AND
VERIFIED CORRECT ANSWERS
100% PASS
Wrongful or criminal deception intended to result in financial or personal gain is
called:
fraud
The Buyer and Seller Temporary Residential Lease forms may be used for a lease
period not to exceed:
90 days
__________ extend above the surface without limitation.
air rights
An example(s) of an appurtenance would be:
easements
There is no upper limit on the value of a Texas homestead.
true
, A(n) __________ is one that combines some of the elements of a sale with a lease.
lease purchase agreement
Which of the following requires a contract for the conveyance of real estate to be
in writing to be enforceable?
statute of frauds
If a broker receives more than one offer on a property:
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:
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.
contingency
The Lead-Based Paint Disclosure is:
A federal requirement for residential property built prior to 1978
