FL Exam sec 11 - Real Estate
Contracts 12% Exam Questions and
Answers 100% PASS
Contracts (in general) - CORRECT ANSWER-agreement between two or more
parties to do or not to do certain things
-valid -contains all valid essentials
-void - lacks one essential
-voidable - maybe valid or void by one of the parties
-enforceable - courts will enforce
-unenforceable - courts cannot enforce
Authority of real estate licensees to prepare contracts - CORRECT ANSWER-
Licensees may not draw lease agreements but fill in blanks on lease instruments on
lease periods that dont exceed one year that are preapproved by florida supreme
court.
,Allowed to assist buyers and sellers fill in blanks on four types of standardized
contracts drafted by attorney and made available through local realtor boards and
associations :
-listing agreement
-buyer brokerage agreement
-sale and purchase contract
-option contract
listing agreement (4 types of contract) - CORRECT ANSWER-is brokers
employment contract with seller. typically sales associate that obtains listing
buyer brokerage agreement (4 types of contract) - CORRECT ANSWER-
employment contract with buyer
sale and purchase contract (4 types of contract) - CORRECT ANSWER-contract
between buyer and seller. if licensee is agent and facilitator for one or both parties
licensee may prepare sale and purchase contract
option contract (4 types of contract) - CORRECT ANSWER-agreement to keep
an offer open for specified period of time an offer to sell or lease real property.
advised to tell buyer or seller to have attorney draw up an options contract.
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, valid contract - CORRECT ANSWER-complies with provisions of contract law.
contains 4 essential elements
-contractual capacity of the parties
-offer and acceptance
-legality of object
-consideration
contractual capacity of the parties (4 essentials of contract) - CORRECT
ANSWER-not everyone can make a valid contract, they must be COMPETENT
(no legal mental defects or insanity and be of legal age)
offer and acceptance (4 essentials of contract) - CORRECT ANSWER-parties
must come to:
-MEETING OF THE MINDS - parties must reach agreement on all terms in
contract
offeror makes offer and offeree accepts
Contracts 12% Exam Questions and
Answers 100% PASS
Contracts (in general) - CORRECT ANSWER-agreement between two or more
parties to do or not to do certain things
-valid -contains all valid essentials
-void - lacks one essential
-voidable - maybe valid or void by one of the parties
-enforceable - courts will enforce
-unenforceable - courts cannot enforce
Authority of real estate licensees to prepare contracts - CORRECT ANSWER-
Licensees may not draw lease agreements but fill in blanks on lease instruments on
lease periods that dont exceed one year that are preapproved by florida supreme
court.
,Allowed to assist buyers and sellers fill in blanks on four types of standardized
contracts drafted by attorney and made available through local realtor boards and
associations :
-listing agreement
-buyer brokerage agreement
-sale and purchase contract
-option contract
listing agreement (4 types of contract) - CORRECT ANSWER-is brokers
employment contract with seller. typically sales associate that obtains listing
buyer brokerage agreement (4 types of contract) - CORRECT ANSWER-
employment contract with buyer
sale and purchase contract (4 types of contract) - CORRECT ANSWER-contract
between buyer and seller. if licensee is agent and facilitator for one or both parties
licensee may prepare sale and purchase contract
option contract (4 types of contract) - CORRECT ANSWER-agreement to keep
an offer open for specified period of time an offer to sell or lease real property.
advised to tell buyer or seller to have attorney draw up an options contract.
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
, valid contract - CORRECT ANSWER-complies with provisions of contract law.
contains 4 essential elements
-contractual capacity of the parties
-offer and acceptance
-legality of object
-consideration
contractual capacity of the parties (4 essentials of contract) - CORRECT
ANSWER-not everyone can make a valid contract, they must be COMPETENT
(no legal mental defects or insanity and be of legal age)
offer and acceptance (4 essentials of contract) - CORRECT ANSWER-parties
must come to:
-MEETING OF THE MINDS - parties must reach agreement on all terms in
contract
offeror makes offer and offeree accepts
