LAW OF CONTRACT FINAL Exam 2025; Certified Exam Questions And Verified Answers |Excellent Scores

1|Page



LAW OF CONTRACT FINAL Exam 2025;
Certified Exam Questions And Verified
Answers |Excellent Scores


This generally refers to a governmental entity's legal authority to force a private
landowner to sell his or her real property for public use.



A) Condemnation

B) Taxation

C) Police power

D) Eminent domain - Correct-answer-D) Eminent domain




Precedents are determined by:



A) Statutory Law

B) Case law

C) TRELA

D) DTPA - Correct-answer-Wrong A) Statutory Law?

,2|Page


This estate may be terminated at will of either party. It has no duration limitation.



A) Estate at will

B) Estate from period to period

C) Estate for years

D) Freehold estate - Correct-answer-A) Estate at will?




A form of shared property ownership in which rights vest in several owners for a
specified period each year.



A) Cooperatives

B) Time shares

C) Townhomes

D) Condominiums - Correct-answer-B) Time shares




The law that established the Texas Real Estate Commission.



A) TREC

B) TRELA

C) TAR

, 3|Page


D) TCEQ - Correct-answer-B) TRELA

C) TAR wrong




This act provides a three day right of rescission.



A) Equal Credit Opportunity Act

B) Truth-in-Lending

C) RESPA

D) Fair Housing Act - Correct-answer-B) Truth-in-Lending




Agency law consist of the:



A) Texas law of agency

B) Texas Real Estate License Act

C) Texas Real Estate Commission

D) Texas Constitution - Correct-answer-B) Texas Real Estate License Act




The owner agrees to list the property with only one broker, however, reserves the
right to sell the property themselves. This is what kind of listing?