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LAW OF CONTRACTS FINAL EXAM PAPER COMPLETE QUESTIONS AND VERIFIED ANSWERS 2026

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LAW OF CONTRACTS FINAL EXAM PAPER COMPLETE QUESTIONS AND VERIFIED ANSWERS 2026

Institution
Law Of Contracts
Course
Law of contracts

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LAW OF CONTRACTS FINAL EXAM
PAPER COMPLETE QUESTIONS
AND VERIFIED ANSWERS 2026

• TERLA . Answer: - Texas Real Estate License Act


- Created in 1939


• TREC . Answer: - Texas Real Estate Commission


- Created in 1949 to administer/enforce TERLA


• Real Estate Center . Answer: - Located at Texas A&M University


- Created in 1970


• TREC-Promulgated Forms/Leases (Residential): . Answer: - One-to-
Four Family Residential Contract (Resale)


- New Home Contract (Completed Construction)


- Residential Condo Contract (Resale)

, - New Home Contract (Incomplete Construction)


- Unimproved Property Contract


- Farm and Ranch


(Note: TREC has promulgated contract addenda and other forms, listed
on Thepage 18)


• Four categories of unlawful trade practices are: . Answer: 1 -
Misleading or deceptive conduct employed by any person that was relied
upon by the consumer to the consumer's detriment


2 - Breach of express or implied warranties


3 - Violation of the Texas Insurance Code (Chpt 51)


4 - An unconscionable action or course of action by any person


• Physical Characteristics of Land . Answer: - Indestructibility: cannot
be destroyed


- Immobility: cannot be moved
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