LAW OF CONTRACTS LATEST UPDATED 2025 FINAL EXAM
WITH COMPLETE DETAILED QUESTIONS AND CORRECT
VERIFIED ANSWERS ALREADY A+ GRADED
The TREC residential contract forms are:
(a) For optional use by real estate license holders
(b) Drafted by the Broker Lawyer Committee
(c) Promulgated by the Broker Lawyer Committee
(d) Mandatory for all transactions in Texas
ANSWER-B
Wrongful or criminal deception intended to result in financial or personal gain is called:
(a) Fraud
(b) Accident
(c) Liability
(d) Misrepresentation
ANSWER-A
,Under the Deceptive Trade Practices Act, __________ are defined as tangible chattels.
(a) Consumersre
(b) Services
(c) Fixtures
(d) Goods
ANSWER-D
If a seller will continue to occupy the property for one month after the closing, the buyer and seller
should:
(a) Ensure that the terms are written into the contract
(b) Negotiate a periodic tenancy agreement
(c) Enter into a Seller's Temporary Residential Lease
(d) Enter into a Buyer's Temporary Residential Lease
ANSWER-C
The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to exceed:
,(a) 14 days
(b) 30 days
(c) 60 days
(d) 90 days
ANSWER-D
A Seller's Disclosure Notice is not required:
(a) When the property being sold is a rental property
(b) At a foreclosure sale
(c) When the property has an out-of-state owner
(d) When the property is sold "as is"
ANSWER-B
The type of law that deals with the relationship between the parties to a transaction, sales agents and
brokers is:
(a) Agency law
(b) Advertising law
, (c) Contract law
(d) Consumer protection law
A
__________ is the body of laws and regulations enacted by federal and state legislative bodies.
(a) Common law
(b) Contract law
(c) Statutory law
(d) Finance law
ANSWER-C
__________ extend above the surface without limitation.
(a) Subsurface rights
(b) Air rights
(c) Surface rights
(d) Building codes
ANSWER-B
WITH COMPLETE DETAILED QUESTIONS AND CORRECT
VERIFIED ANSWERS ALREADY A+ GRADED
The TREC residential contract forms are:
(a) For optional use by real estate license holders
(b) Drafted by the Broker Lawyer Committee
(c) Promulgated by the Broker Lawyer Committee
(d) Mandatory for all transactions in Texas
ANSWER-B
Wrongful or criminal deception intended to result in financial or personal gain is called:
(a) Fraud
(b) Accident
(c) Liability
(d) Misrepresentation
ANSWER-A
,Under the Deceptive Trade Practices Act, __________ are defined as tangible chattels.
(a) Consumersre
(b) Services
(c) Fixtures
(d) Goods
ANSWER-D
If a seller will continue to occupy the property for one month after the closing, the buyer and seller
should:
(a) Ensure that the terms are written into the contract
(b) Negotiate a periodic tenancy agreement
(c) Enter into a Seller's Temporary Residential Lease
(d) Enter into a Buyer's Temporary Residential Lease
ANSWER-C
The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to exceed:
,(a) 14 days
(b) 30 days
(c) 60 days
(d) 90 days
ANSWER-D
A Seller's Disclosure Notice is not required:
(a) When the property being sold is a rental property
(b) At a foreclosure sale
(c) When the property has an out-of-state owner
(d) When the property is sold "as is"
ANSWER-B
The type of law that deals with the relationship between the parties to a transaction, sales agents and
brokers is:
(a) Agency law
(b) Advertising law
, (c) Contract law
(d) Consumer protection law
A
__________ is the body of laws and regulations enacted by federal and state legislative bodies.
(a) Common law
(b) Contract law
(c) Statutory law
(d) Finance law
ANSWER-C
__________ extend above the surface without limitation.
(a) Subsurface rights
(b) Air rights
(c) Surface rights
(d) Building codes
ANSWER-B
