AYPO Real Estate Law of Contracts 80 Final Exam Review Questions With Correct Answers
Forms published and promoted by the TREC for use in the Texas real estate profession are referred to as: - ️️️Promulgated forms The Texas Real Estate Commission (TREC) is a ___-member commission appointed by the governor with the advice and consent of the senate for overlapping ___-year terms. - ️️️9, 6 Contract law presents a particularly high risk of the unauthorized practice of law when a licensee chooses to do which of the following? - ️️️Create their own contract forms. The Broker-Lawyer Committee: - ️️️Drafts and revises contract forms for use by real estate licensees. The TREC Promulgated One to Four Family Residential Contract (Resale) can be identified by the: - ️️️Date in the upper right corner and the ID number in the lower right corner. In order to recover damages under the DTPA, the consumer has to show that the information was withheld: - ️️️With intent to induce the consumer into a transaction. Which of these is a common type of law encountered in the real estate profession? - ️️️1. Real property vs. personal property 2. Fiduciary duties and handling of client finances 3. Consumer protection The term real property refers to: - ️️️1. Earth's surface 2. Airspace 3. Subsurface
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