Exam** September 2025 n n n
In na nresidential nlease nwith na n"right nof nfirst nrefusal" nprovision: n- n ncorrect nanswer- nThe ntenant
n n n n n n n n n n n n n n n n
nhas nthe nright nto nmatch nor nbetter nany noffer nthe nlandlord nreceives nto nprevent nthe nproperty
n n n n n n n n n n n n n n n n
nfrom nbeing nsold nto nsomeone nelse
n n n n n n
n nThe nfour nECONOMIC ncharacteristics nof nland nare: n- n ncorrect nanswer- n1) nScarcity
n n n n n n n n n n n n
2) nModification
n
3) nSitus
n
4) nFixity
n
GIVES nLAND nITS nVALUE
n n n
, n nThe nBuyer nand nSeller nTemporary nResidential nLease nforms nmay nbe nused nfor na nlease nperiod nnot
n n n n n n n n n n n n n n n
n nto nexceed: n- n ncorrect nanswer- n90 ndays
n n n n n n n
n nA ncontract nthat nis nsaid nto nlack nmutuality nbecause nonly none nparty nis nobligated nto nperform nis
n n n n n n n n n n n n n n n n
n na________ ncontract. n- n ncorrect nanswer- nUnilateral nContract
n n n n n n n
n nAt nclosing, nthe ncontract nis: n- n ncorrect nanswer- nfully nexecuted
n n n n n n n n n n
n nAccording nto nthe nDeceptive nTrade nPractices nAct n(DTPA), nbrokerage nfalls nunder nthe ncategory nof
n n n n n n n n n n n n n
n n________. n- n ncorrect nanswer- nServices n n n n n
n nThe nfive nessential nelements nof na nvalid nand nenforceable ncontract nare: n- n ncorrect nanswer- nCOLIC
n n n n n n n n n n n n n n n
1. nComponent nparties
n n
2. nOffer nand nacceptance
n n n
3. nLegal npurpose
n n
4. nIn nwriting
n n
5. nConsideration
n
n n________ nlaw nis na nbody nof nlaw nbased non n"common nsense" nand nlocal ncustom. n- n ncorrect
n n n n n n n n n n n n n n n n
n nanswer- nCommon nLaw n n
n nWhich nkind nof nrights nextend nabove nthe nsurface nof nproperty nwithout nlimitation? n- n ncorrect
n n n n n n n n n n n n n n
n nanswer- nAir nrights n n
n nA(n) n________ noccurs nwhen na nnew ncontract nis nsubstituted nfor nan nexisting none. n- n ncorrect
n n n n n n n n n n n n n n n
n nanswer- nNovation n