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AYPO Real Estate Law Of Contracts (version 1&2) Newest
2025 Actual Exam Complete 250 Questions And Correct
Answers(Verified Answers)|Already Graded A+
Version 1
Which of these primary residences would not be fully protected
under the Texas Homestead Act? - ANSWER-A city residence
on 12 acres.
Which of these IS NOT in the information requested above? -
ANSWER-Who is the buyer's employer?
Which of these was NOT one of the key court rulings? -
ANSWER-Earlier agreements supersede later agreements
Which process requires the breaching party to complete their
contractual obligations? - ANSWER-Specific performance
The form that generally precedes the rest in most sales
transactions is the: - ANSWER-Information About Brokerage
Services
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Which type of listing agreement is the only one to guarantee the
broker a commission in the event of a successful sale? -
ANSWER-Exclusive-right-to-sell
Buyer-broker agency is a relatively new concept in the Texas
real estate profession? - ANSWER-TRUE
Lease agreements lasting more than ________ must be in
writing to be unenforceable under the Texas Statute of Frauds. -
ANSWER-One year
The leasehold estate owner is said to hold a ____________
interest. - ANSWER-Reversionary
Which of these would NOT be a requirement to create a valid
lease agreement? - ANSWER-Financing disclosure
Which form of these lease types is focused primarily on
commercial lessees? - ANSWER-Percentage lease
A tenant abandoning a leased property without providing proper
notice or doing so under a previously negotiated reason, is not
released from their obligations. - ANSWER-TRUE
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What type of contracts are options generally considered to be? -
ANSWER-Unilateral
A contract for deed is also known as: - ANSWER-1. Installment
sales contract
2. Real estate contract
An advantage to buyers in a lease-purchase option is that: -
ANSWER-It can be easier to get a difficult to qualify buyer into
a home with a lower down payment.
The real estate sales contract becomes an offer as soon as: -
ANSWER-It has been prepared and signed by the purchaser.
At what point has an acceptance of an offer been completed? -
ANSWER-Once the offeror has been notified of the offeree's
acceptance.
A __________ clause states that a contract remains valid even if
one provision of the contract is rendered invalid. - ANSWER-
Severability
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Which of these IS NOT one of the major types of REITs? -
ANSWER-Commercial
Buyer's agents aware of a "stigma." i.e., psychologically
impactful event, on a property are required to disclose the
stigma. - ANSWER-FALSE
Buyer A purchases home from Seller B, but the home burns
down the week before closing - the cause a cigarette dropped by
A during a walk-through. As a result: - ANSWER-A likely is
obligated to complete the purchase because the damage was A's
fault.
Which of these IS NOT listed as a potential damages item for
wrongfully failing or refusing to sign a release acceptable to the
escrow agent within 7 days of receipt of the request? -
ANSWER-Broker's fees
In what instances may parol (oral) evidence be used to dispute a
contractual obligation? - ANSWER-When a party made
promises that they never intended to fulfill but used to induced
the other party to sign the contract
AYPO Real Estate Law Of Contracts (version 1&2) Newest
2025 Actual Exam Complete 250 Questions And Correct
Answers(Verified Answers)|Already Graded A+
Version 1
Which of these primary residences would not be fully protected
under the Texas Homestead Act? - ANSWER-A city residence
on 12 acres.
Which of these IS NOT in the information requested above? -
ANSWER-Who is the buyer's employer?
Which of these was NOT one of the key court rulings? -
ANSWER-Earlier agreements supersede later agreements
Which process requires the breaching party to complete their
contractual obligations? - ANSWER-Specific performance
The form that generally precedes the rest in most sales
transactions is the: - ANSWER-Information About Brokerage
Services
,2|Page
Which type of listing agreement is the only one to guarantee the
broker a commission in the event of a successful sale? -
ANSWER-Exclusive-right-to-sell
Buyer-broker agency is a relatively new concept in the Texas
real estate profession? - ANSWER-TRUE
Lease agreements lasting more than ________ must be in
writing to be unenforceable under the Texas Statute of Frauds. -
ANSWER-One year
The leasehold estate owner is said to hold a ____________
interest. - ANSWER-Reversionary
Which of these would NOT be a requirement to create a valid
lease agreement? - ANSWER-Financing disclosure
Which form of these lease types is focused primarily on
commercial lessees? - ANSWER-Percentage lease
A tenant abandoning a leased property without providing proper
notice or doing so under a previously negotiated reason, is not
released from their obligations. - ANSWER-TRUE
,3|Page
What type of contracts are options generally considered to be? -
ANSWER-Unilateral
A contract for deed is also known as: - ANSWER-1. Installment
sales contract
2. Real estate contract
An advantage to buyers in a lease-purchase option is that: -
ANSWER-It can be easier to get a difficult to qualify buyer into
a home with a lower down payment.
The real estate sales contract becomes an offer as soon as: -
ANSWER-It has been prepared and signed by the purchaser.
At what point has an acceptance of an offer been completed? -
ANSWER-Once the offeror has been notified of the offeree's
acceptance.
A __________ clause states that a contract remains valid even if
one provision of the contract is rendered invalid. - ANSWER-
Severability
, 4|Page
Which of these IS NOT one of the major types of REITs? -
ANSWER-Commercial
Buyer's agents aware of a "stigma." i.e., psychologically
impactful event, on a property are required to disclose the
stigma. - ANSWER-FALSE
Buyer A purchases home from Seller B, but the home burns
down the week before closing - the cause a cigarette dropped by
A during a walk-through. As a result: - ANSWER-A likely is
obligated to complete the purchase because the damage was A's
fault.
Which of these IS NOT listed as a potential damages item for
wrongfully failing or refusing to sign a release acceptable to the
escrow agent within 7 days of receipt of the request? -
ANSWER-Broker's fees
In what instances may parol (oral) evidence be used to dispute a
contractual obligation? - ANSWER-When a party made
promises that they never intended to fulfill but used to induced
the other party to sign the contract
