Voidable Study guides, Revision notes & Summaries
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PSI EXAM PREP 2024 with 100% correct answers
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assignment correct answersThe transfer of rights and duties, but not liabilities, from one contract to another contract or from one person to another person is an: 
 
liquidated damages. Earnest money is not consideration; it is the seller's remedy in a liquidated damages contract if the buyer defaults. correct answersWhen the buyer is in default and the seller keeps the earnest money, the contract MOST likely provided for: 
 
executory. The phase from offer to a closed and executed/closed cont...
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Promulgated Forms – Champions Exam Study Guide with Complete Solutions 100% Verified 2024/2025
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Promulgated Forms – Champions Exam Study Guide with Complete Solutions 100% Verified 2024/2025 
 Mutual Consent - Correct Answer "meeting of the minds" 
 
unilateral contract - Correct Answer A contract in which only one party is obligated to perform 
 
consideration - Correct Answer Something given in exchange for a promise 
 
option - Correct Answer an agreement between a buyer and seller giving the buyer the right to purchase a property at a preset price for a given period of time 
 
...
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CA REAL ESTATE EXAM 2024 PRACTICE QUESTIONS
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An insurance policy which combines personal liability insurance and hazard insurance coverage for a dwelling and its contents is called: 
 
Homeowner's insurance 
Buyer's insurance 
Errors and omissions insurance 
All of the above - Answer-Homeowner's insurance 
 
Homeowner's insurance ensures comprehensive protection for homeowners. 
 
What is the status of a contract when all terms have been fulfilled and the transaction has been closed? 
 
Fully executed 
Terminated 
Voidable 
Unenforceab...
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Timeshare License Exam Questions and Answers Already Graded A
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Timeshare License Exam Questions and Answers Already Graded A 
 
 
How long is a TSA license valid for? 
2 years 
If a timeshare AGENT initially becomes licensed on June 6, 2000, when will the license expire? 
June 30, 2002 (end of the month - 2 years later) 
If a timeshare REPRESENTATIVE initially becomes licensed on June 6, 2009, when will the license expire? 
June 30, 2010 (end of the month - 1 year later) 
An applicant for an original timeshare license MUST provide: 
An application, certific...
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MRL3701 - STUDY UNIT 15 - Voidable and Undue Preference, Collusive Dealings and the Actio Pauliana Exam Questions with Correct Answers
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DISPOSITION WHICH PREFERS ONE CREDITOR ABOVE ANOTHER :VOIDAABLE PREFERENCE Correct Answer What must be proved: 
 
I.t.o. Se 29(1) court may set aside a disposition made by the insolvent not more than 6 months before the sequestration of his estate or his death (where he is deceased and estate in insolvent) if disposition had the effect of preferring one of the insolvent's creditors above another and immediately after the disposition was made, the liabilities of the insolvent exceeded the value ...
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Utah Real Estate General Sales Questions and Answers Already Passed
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Utah Real Estate General Sales 
 
Questions and Answers Already Passed 
 
Bob the buyer has made an offer on Sam the seller's property. That offer has been accepted. Bob 
is working on finalizing his loan for the purchase as part of the contingencies of the agreement. 
What kind of agreement exists between Bob and Sam? 
 
(a) Executed 
(b) Sale pending 
(c) Executory 
(d) Voidable (c) Executory 
 
J carried back a 2nd mortgage when his home was sold. Now he needs some ready cash and is 
going t...
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National - Real Estate Exam Practice Questions (Set One) Latest Update Graded A+
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National - Real Estate Exam Practice 
Questions (Set One) Latest Update 
 
Graded A+ 
 
Which of the following is a lien on real estate? 
 
a. recorded easement 
b. recorded mortgage 
c. encroachment 
 
d. dead restriction b. recorded mortgage 
 
Which approach to value would MOST likely be useful to real estate brokers estimating the 
value of a single-family residence for sale in a subdivision? 
 
a. cost approach 
b. income approach 
c. market comparison approach 
d. gross rent multiplier c. ...
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Real Estate U Texas Promulgated Contract Forms | 285 Questions with 100% Correct Answers | Verified | Latest Update 2024
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To have no force or effect is referred to as a .......... contract? 
Void 
Valid 
Enforceable 
Executed - Void 
That which is capable of being adjusted void, but is not unless action is taken to make it so, is referred to 
as a/an ............ contract? 
Unenforceable 
Voidable 
Executed 
Expired - Voidable 
In order to be considered a competent party, an individual must be of the age of the...? 
Majority 
Minority 
Other party 
None of the above - Majority
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AIC 301 2024 Exam Questions and Answers All Correct
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AIC 301 2024 Exam Questions and Answers All Correct 
 
.What are the elements of a legally binding contract? - Answer-To be legally binding, contracts must: 
 • Contain an agreement between all parties 
• Involve parties with the legal capacity to contract 
 • Contain mutual assent 
• Involve consideration 
• Have a legal purpose 
 • Be in the form prescribed by law 
 
What are the similarities and differences between bilateral and unilateral contracts? - Answer-In bilateral cont...
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NYREI School Exam Questions and Answers Latest Version Graded A+
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NYREI School Exam Questions and Answers Latest Version Graded A+ What is the minimum licensing requirement to sell commercial real estate in New York? a real estate salesperson's license 
What is the preferred method of creating an agency relationship? expressed agency 
An amenity purchaser occupies or uses the purchased property 
Condominium units are considered _____ property and are conveyed by _____. real / deed 
A salesperson who is an independent contractor is not subject to withholding r...