Law of Contracts Exam Preparation: 100% Verified Questions & Answers: Latest Updated

All of the following acts on the part of a real estate broker would constitute steering and thus be prohibited under the Fair Housing Act EXCEPT: A) directing a prospective buyer of one minority group to work only with a salesperson of the same minority group and to look at areas dominated by that minority group B) directing a member of one minority group away from properties located in areas dominated by other races C) referring a member of one minority group to properties located only in areas dominated by members of the same group D) directing a minority buyer to an expensive subdivision (Ans- D) directing a minority buyer to an expensive subdivision The One-to-Four Family Residential Contracts states: A) only the buyer needs to sign the contract B) licensees cannot give legal advice C) no more than four people may live on the property D) it may be used for condominiums (Ans- B) licensees cannot give legal advice Which listing is a non-exclusive agreement that lets the owner sell the property by themselves? A) Open listing B) Net listing C) Exclusive Agency listing D) Exclusive Right To Sell listing (Ans- A) Open listing In the deed, the clause which sets forth the extent of the title being conveyed is: A) hereditaments B) the demising clause C) the indenture clause D) the habendum clause (Ans- D) the habendum clause When one of the parties of a contract may legally reject it, the contract is said to be: A) voidable B) void C) unenforceable