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Promulgated Contract Forms 351 Exam with Complete Solutions

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Promulgated Contract Forms 351 Exam with Complete Solutions Essential elements of a contract include: A. Competent parties B. Offer and acceptance C. Consideration D. All of the above ANSWER All of the above The One-to-Four Family Contract includes all the following EXCEPT: A. Street address and legal description B. Down payment, loan amount, and sales price C. Full and legal names of both parties D. Type of loan the buyer is obtaining ANSWER Type of loan the buyer is obtaining If a seller counters a buyer's offer, it is considered a rejection. A. True B. False ANSWER True It is considered illegal for a contract to include any discriminatory provisions.

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