Real Estate Principles Edition 10, Chapter 7 Quiz well answered rated A+

Real Estate Principles Edition 10, Chapter 7 QuizThe typical real estate purchase agreement is - correct answer a bilateral contract. page 176 When both parties to a contract agree to substitute a new agreement for the present one, this is known as a - correct answer novation. page 185 Both parties agree to cancel a contract in the process o - correct answer rescission. page 185 A contract that has yet to be performed is known as an - correct answer executory contract. page 175 Performance of a contract may be excused if a party can prove which of the following? - correct answer Impracticability of performance. page 185 A contract that is a promise for a promise is known as a - correct answer bilateral contract. page 175 Failure to perform a contract obligation is known as a - correct answer breach. page 186 Which of the following is NOT a way to terminate a contract? - correct answer Verification. page 187 A contract that has no legal effect from its inception is a - correct answer void contract. page 176 To be enforceable, real estate sales agreements must - correct answer be in writing. page 176