TEXAS PROMULGATED CONTRACTS LATEST
STUDY EXAMS GUIDE QUESTIONS AND ANSWERS
SURE A+
✔✔In Texas, the statute of limitations is ____________ for an oral agreement.
a. Four years
b. Two years
c. Eight years
d. Six years - ✔✔B
✔✔A rejection of the original offer coupled with a new offer.
a. Promulgated forms
b. Counteroffer
c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ✔✔B
✔✔License holder adding complex provisions to a contract.
a. Promulgated forms
b. Counteroffer
,c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ✔✔C
✔✔Contract forms published by TREC.
a. Promulgated forms
b. Counteroffer
c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ✔✔A
✔✔The party making an offer.
a. Promulgated forms
b. Counteroffer
c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ✔✔E
✔✔An agreement that allows a tenant to purchase a property during the lease term.
a. Promulgated forms
b. Counteroffer
c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ✔✔D
✔✔TREC-promulgated lease forms are for a term of no more than ________________
days.
a. 180
b. 30
c. 90
d. 60 - ✔✔C
✔✔A(n) ________________ is a rejection of the original offer coupled with a new offer.
a. Counteroffer
b. Acceptance
c. Net sheet
d. Notification - ✔✔A
✔✔The party to whom an offer is submitted is known as the _______________.
, a. License holder
b. Offeree
c. Buyer
d. Broker - ✔✔B
✔✔TREC publishes promulgated forms for _________________.
a. Lease purchase agreements
b. Cooperatives
c. Right of first refusal
d. Residential transactions - ✔✔D
✔✔Brokers receiving multiple offers must submit ______________ to the seller.
a. Only those offers the broker deems serious
b. Offers in the order in which they were submitted
c. All offers, regardless of the timing of submission
d. Offers which exceed the seller's asking price - ✔✔C
✔✔An offer may be terminated _______________, prior to acceptance by the offeree.
a. Within 7 days
b. At any time
c. Within 24 hours
d. Within 72 hours - ✔✔B
✔✔Under the legal concept of ________________, an offer is presumed to have been
delivered to the principal when it is delivered to the agent.
a. Presentation
b. Imputed notice
c. Notification
d. Lis pendens - ✔✔B
✔✔When a seller receives an offer, the __________________ should prepare a net
sheet, which is an estimate of the net proceeds of the offer.
a. Buyer
b. Seller
c. Listing Agent
d. Buyer's Agent - ✔✔C
✔✔The unauthorized practice of law by license holders led TREC to create the
_____________, which writes residential contract forms.
STUDY EXAMS GUIDE QUESTIONS AND ANSWERS
SURE A+
✔✔In Texas, the statute of limitations is ____________ for an oral agreement.
a. Four years
b. Two years
c. Eight years
d. Six years - ✔✔B
✔✔A rejection of the original offer coupled with a new offer.
a. Promulgated forms
b. Counteroffer
c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ✔✔B
✔✔License holder adding complex provisions to a contract.
a. Promulgated forms
b. Counteroffer
,c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ✔✔C
✔✔Contract forms published by TREC.
a. Promulgated forms
b. Counteroffer
c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ✔✔A
✔✔The party making an offer.
a. Promulgated forms
b. Counteroffer
c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ✔✔E
✔✔An agreement that allows a tenant to purchase a property during the lease term.
a. Promulgated forms
b. Counteroffer
c. Unauthorized practice of law
d. Lease-purchase agreement
e. Offeror - ✔✔D
✔✔TREC-promulgated lease forms are for a term of no more than ________________
days.
a. 180
b. 30
c. 90
d. 60 - ✔✔C
✔✔A(n) ________________ is a rejection of the original offer coupled with a new offer.
a. Counteroffer
b. Acceptance
c. Net sheet
d. Notification - ✔✔A
✔✔The party to whom an offer is submitted is known as the _______________.
, a. License holder
b. Offeree
c. Buyer
d. Broker - ✔✔B
✔✔TREC publishes promulgated forms for _________________.
a. Lease purchase agreements
b. Cooperatives
c. Right of first refusal
d. Residential transactions - ✔✔D
✔✔Brokers receiving multiple offers must submit ______________ to the seller.
a. Only those offers the broker deems serious
b. Offers in the order in which they were submitted
c. All offers, regardless of the timing of submission
d. Offers which exceed the seller's asking price - ✔✔C
✔✔An offer may be terminated _______________, prior to acceptance by the offeree.
a. Within 7 days
b. At any time
c. Within 24 hours
d. Within 72 hours - ✔✔B
✔✔Under the legal concept of ________________, an offer is presumed to have been
delivered to the principal when it is delivered to the agent.
a. Presentation
b. Imputed notice
c. Notification
d. Lis pendens - ✔✔B
✔✔When a seller receives an offer, the __________________ should prepare a net
sheet, which is an estimate of the net proceeds of the offer.
a. Buyer
b. Seller
c. Listing Agent
d. Buyer's Agent - ✔✔C
✔✔The unauthorized practice of law by license holders led TREC to create the
_____________, which writes residential contract forms.
