Texas Promulgated Contracts Champions Exam Newest Updated 2024

Texas Promulgated Contracts Champions Exam Newest Updated 2024


funding, a contract is a(n):


(a) tentative contract


(b) voidable contract


(c) executory contract


(d) fully executed contract - C


At closing the buyer should bring a:


(a) personal check for the amount of closing costs and down payment


(b) a promissory note for the amount of closing costs and down payment


(c) cash for the amount of closing costs and down payment

,(d) a cashier's check or wire transfer for the amount of closing costs and down
payment - D


When a party fails to perform according to the terms of a contract, the party is
said to be:


(a) in default


(b) in avoidance


(c) terminated


(d) in violation - A


____________________ is defined as something given in exchange for a promise.


(a) Consideration

, (b) Legal subject matter


(c) Mutual assent


(d) Competent parties - A


Usual expenses of the buyer as stated in the contract include:


(a) deed preparation fee


(b) release of existing liens


(c) loan application fees


(d) tax statements - C


If a buyer makes an offer without having received the Seller's Disclosure Notice,
how many days does the seller have to provide the notice?