LAW OF CONTRACT FINAL EXAM () ACTUAL EXAM (TESTING REAL EXAM QUESTIONS) AND VERIFIED ANSWERS (MULTIPLE CHOICES) |COMPLETE SOLUTIONS |A+ GRADED |100% CORRECT!!

LAW OF CONTRACT FINAL EXAM () ACTUAL EXAM (TESTING REAL
Law of Contract Final exam
EXAM QUESTIONS) AND VERIFIED ANSWERS (MULTIPLE CHOICES)
Study online at https://quizlet.com/_2an4rf
|COMPLETE SOLUTIONS |A+ GRADED |100% CORRECT!!
1. This generally refers to a governmental entity's legal D) Eminent domain
authority to force a private landowner to sell his or her
real property for public use.

A) Condemnation
B) Taxation
C) Police power
D) Eminent domain

2. Precedents are determined by: Wrong A) Statutory Law?

A) Statutory Law
B) Case law
C) TRELA
D) DTPA

3. This estate may be terminated at will of either party. It A) Estate at will?
has no duration limitation.

A) Estate at will
B) Estate from period to period
C) Estate for years
D) Freehold estate

4. A form of shared property ownership in which rights B) Time shares
vest in several owners for a specified period each year.

A) Cooperatives
B) Time shares
C) Townhomes
D) Condominiums

5.



, Law of Contract Final exam
Study online at https://quizlet.com/_2an4rf

The law that established the Texas Real Estate Commis- B) TRELA
sion. C) TAR wrong

A) TREC
B) TRELA
C) TAR
D) TCEQ

6. This act provides a three day right of rescission. B) Truth-in-Lending

A) Equal Credit Opportunity Act
B) Truth-in-Lending
C) RESPA
D) Fair Housing Act

7. Agency law consist of the: B) Texas Real Estate Li-
cense Act
A) Texas law of agency
B) Texas Real Estate License Act
C) Texas Real Estate Commission
D) Texas Constitution

8. In owner financing, who receives the DEED OF TRUST? C) Seller

A) Buyer
B) Escrow officer
C) Seller
D) Mortgage company

9. An automatic legal process by which an effect or result, wrong C) Breach
or liability or right, is created of extinguished without wrong A) Default
the consent of either party.

A) Default