Barney Fletcher Section 3 Exam Questions and Answers

Barney Fletcher Section 3 Exam Questions and Answers Void Contract - Ans ️️ Not legally binding Covenant - Ans ️️ An agreement or a pledge between two or more parties Valid Contract - Ans ️️ Must contain certain essential elements Voidable Contract - Ans ️️ May be declared void Which of the following is not required for a contract for the sale of real property to be valid and enforceable? a) Performance b) Offer and acceptance c) Consideration d) In writing - Ans ️️ a The loan contingency clause in a valid sales contact will contain all of the following except a) the amount of the loan b) the name of the lender c) the date of the commitment d) the interest rate of the loan - Ans ️️ b Which of the following is subject to the Statute of Frauds? a) Six-month lease for an apartment b) Tenancy at will c) Two-year lease for real property d) Month to month rental - Ans ️️ c A client is obligated to her agent for a) indemnification against loss not caused by the agen