Law of Contracts Champions School of Real Estate Questions with 100% Correct Answers | Verified | Latest Update

1. TERLA: - Texas Real Estate License Act - Created in 1939 2. TREC: - Texas Real Estate Commission - Created in 1949 to administer/enforce TERLA 3. Real Estate Center: - Located at Texas A&M University - Created in 1970 4. TREC-Promulgated Forms/Leases (Residential):: - One-to-Four Family Resi- dential Contract (Resale) - New Home Contract (Completed Construction) - Residential Condo Contract (Resale) - New Home Contract (Incomplete Construction) - Unimproved Property Contract - Farm and Ranch (Note: TREC has promulgated contract addenda and other forms, listed on Thepage 18) 5. Four categories of unlawful trade practices are:: 1 - Misleading or deceptive conduct employed by any person that was relied upon by the consumer to the consumer's detriment 2 - Breach of express or implied warranties 3 - Violation of the Texas Insurance Code (Chpt 51) - An unconscionable action or course of action by any person