LAW OF CONTRACT CHAMPIONS WITH QUESTION AND CORRECT ANSWERS // DOWNLOAD AND PASS

LAW OF CONTRACT CHAMPIONS WITH QUESTION AND CORRECT ANSWERS // DOWNLOAD AND PASS In a residential lease with a "right of first refusal" provision: - ANSWERS The tenant has the right to match or better any offer the landlord receives to prevent the property from being sold to someone else The four ECONOMIC characteristics of land are: - ANSWERS 1) Scarcity 2) Modification 3) Situs 4) Fixity GIVES LAND ITS VALUE The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to exceed: - ANSWERS 90 days A contract that is said to lack mutuality because only one party is obligated to perform is a________ contract. - ANSWERS Unilateral Contract According to the Deceptive Trade Practices Act (DTPA), brokerage falls under the category of ________. - ANSWERS Services The five essential elements of a valid and enforceable contract are: - ANSWERS COLIC 1. Component parties 2. Offer and acceptance 3. Legal purpose 4. In writing 5. Consideration ________ law is a body of law based on "common sense" and local custom. - ANSWERS Common Law