Florida Real Estate Chapter 11 Review Questions Graded A+

Florida Real Estate Chapter 11 Review Questions Graded A+ Which group of legal instruments may legally be prepared by a licensed real estate broker? Listing agreements, buyer brokerage agreements, Sale contracts, and option contracts. Failure to comply with the statute of frauds Would have to do with whether a contract is in writing Which contract does NOT come under the jurisdiction of the statutes of fraud? Lease agreements for one year or less A valid real estate sale contract is one that Contains all the essential elements and is in writing. An adult contracting with a minor is an example of failure to meet which essential of a real estate contract? Competente parties Canceling a daughters property indebtedness in a contract due to love and affection is an example of Good consideration A contract that is NOT in writing is called A parol contact When a contract has been formed but an undertaking remains to be performed by one or both parties, it is an example of An executory contract Which statement is FALSE regarding counterosffers? The offeror and offeree remain the same even though the terms are modified An offer is NOT terminated for which reasons? An extension A contract may be terminated for which reasons? Mutual rescission, performance,breach A women gave an exclusive-right-of-sale listing to a broker to find a buyer for her residential lot. While the women was vacationing with her family, a buyer signed an offer to purchase the women's lot at full price and terms of the listing agreement which statement is TRUE? The exclusive-right-of-sale listing does give the broker the authority to accept the offer on the women's health. A man and a women enter into a written agreement. The man who mow the women's lawn every week during the mowing season and every third week during the winter. In the middle of the summer, the man has back surgery. He hands over his lawn maintenance contracts to a friend, who assumes the responsibility for all of the man's customers for the remainder of the contract period. Which term describes this situation. Assignment Which applies to exclusive—right—on-sale listing. 1The broker is due a commission regardless of who finds the buyer. 2 The listing may be submitted to the ML by the listing broker. 3 The seller must consent to the terms of the listing agreement. Which disclosure regarding radon is required when purchasing or leasing real property in Florida.. A