ILLINOIS REAL ESTATE LEASING EXAM
PREP 100% CORRECT!
, Acceptance By Ratification - ANSWER The acceptance of lease terms that occurs when
a tenant takes possession of the property but does not sign a lease. This form of
acceptance is recognizable by the courts.
Accord and Satisfaction - ANSWER When all parties have agreed to a change in one or
more of the terms of a contract
Actual Eviction - ANSWER Court action initiated by the lessor to have a tenant removed
from the premises.
Administrative Law Judge (ALJ) - ANSWER A judge who hears complaints and
considers evidence regarding violations of the Fair Housing Act.
Agency - ANSWER The legal relationship created when one person represents another.
Air Rights - ANSWER Rights to use the space above the surface of land upward into the
sky.
Airspace - ANSWER The space above the surface extending into infinity.
Americans With Disabilities Act of 1990 - ANSWER A comprehensive civil rights law for
the protection of persons with physical and mental disabilities. This law mandates equal
access to jobs, public accommodations, government services, public transportation and
telecommunications.
Assignment - ANSWER The act of one party to a contract allowing someone else to
assume all of his/her rights under the contract.!
Bilateral Contract - ANSWER A contract in which two parties exchange promises.
Blockbusting - ANSWER Inducing an owner to sell or rent a dwelling by making
representations regarding entry of persons of a protected class, also referred to as
"panic peddling."
Breach of Contract - ANSWER The action or lack of action of one party to a contract
which violates the terms of the agreement
PREP 100% CORRECT!
, Acceptance By Ratification - ANSWER The acceptance of lease terms that occurs when
a tenant takes possession of the property but does not sign a lease. This form of
acceptance is recognizable by the courts.
Accord and Satisfaction - ANSWER When all parties have agreed to a change in one or
more of the terms of a contract
Actual Eviction - ANSWER Court action initiated by the lessor to have a tenant removed
from the premises.
Administrative Law Judge (ALJ) - ANSWER A judge who hears complaints and
considers evidence regarding violations of the Fair Housing Act.
Agency - ANSWER The legal relationship created when one person represents another.
Air Rights - ANSWER Rights to use the space above the surface of land upward into the
sky.
Airspace - ANSWER The space above the surface extending into infinity.
Americans With Disabilities Act of 1990 - ANSWER A comprehensive civil rights law for
the protection of persons with physical and mental disabilities. This law mandates equal
access to jobs, public accommodations, government services, public transportation and
telecommunications.
Assignment - ANSWER The act of one party to a contract allowing someone else to
assume all of his/her rights under the contract.!
Bilateral Contract - ANSWER A contract in which two parties exchange promises.
Blockbusting - ANSWER Inducing an owner to sell or rent a dwelling by making
representations regarding entry of persons of a protected class, also referred to as
"panic peddling."
Breach of Contract - ANSWER The action or lack of action of one party to a contract
which violates the terms of the agreement
