TEXAS PROMULGATED CONTRACT
FORMS- QUIZ QUESTIONS &
ANSWERS PASSED ALREADY
GRADED A+
The date a contract starts is known as the...?
Effective date
Legal date
Commencement date
Signature date - correct answer ✔✔Effective Date
A valid and enforceable contract must include which of the following elements...?
Consideration
Mutual agreement
Competent parties
All of the above - correct answer ✔✔All Of The Above
Additional pages of material that are added to and become part of a contract are referred to as
a/an...?
RFP
Addendum
Amendment
,Bulletin - correct answer ✔✔Addendum
A typical real estate sales contract between a buyer and seller is considered a/an...?
Unenforceable contract
Forbearance contract
Performance contract
Void contract - correct answer ✔✔Performance Contract
An executory contract is...?
Void
Completed
In-progress
Unenforceable - correct answer ✔✔In-Progress
A change in a legal document made by adding, altering, or omitting a certain part or term is
referred to as a/an...?
RFP
Bulletin
Amendment
Addendum - correct answer ✔✔Amendment
A contract that has been fully performed is known as a/an...?
, Executory contract
Expired contract
Executed contract
Unenforceable contract - correct answer ✔✔Executed Contract
John is about to enter into a contract with Amy, to purchase Amy's house. The real estate sales
contract between John and Amy...?
May be oral
May lack consideration
Must be in-writing
May be in-writing or oral - correct answer ✔✔Must Be In-Writing
Anything given or promised by a party to induce another to enter into a contract is referred to
as...?
Performance
Novation
Acknowledgement
Consideration - correct answer ✔✔Consideration
A lease with a term of less than one year...?
Must be in writing
May be oral or in-writing
Must be notarized
Must be oral - correct answer ✔✔May Be Oral Or In-Writing
FORMS- QUIZ QUESTIONS &
ANSWERS PASSED ALREADY
GRADED A+
The date a contract starts is known as the...?
Effective date
Legal date
Commencement date
Signature date - correct answer ✔✔Effective Date
A valid and enforceable contract must include which of the following elements...?
Consideration
Mutual agreement
Competent parties
All of the above - correct answer ✔✔All Of The Above
Additional pages of material that are added to and become part of a contract are referred to as
a/an...?
RFP
Addendum
Amendment
,Bulletin - correct answer ✔✔Addendum
A typical real estate sales contract between a buyer and seller is considered a/an...?
Unenforceable contract
Forbearance contract
Performance contract
Void contract - correct answer ✔✔Performance Contract
An executory contract is...?
Void
Completed
In-progress
Unenforceable - correct answer ✔✔In-Progress
A change in a legal document made by adding, altering, or omitting a certain part or term is
referred to as a/an...?
RFP
Bulletin
Amendment
Addendum - correct answer ✔✔Amendment
A contract that has been fully performed is known as a/an...?
, Executory contract
Expired contract
Executed contract
Unenforceable contract - correct answer ✔✔Executed Contract
John is about to enter into a contract with Amy, to purchase Amy's house. The real estate sales
contract between John and Amy...?
May be oral
May lack consideration
Must be in-writing
May be in-writing or oral - correct answer ✔✔Must Be In-Writing
Anything given or promised by a party to induce another to enter into a contract is referred to
as...?
Performance
Novation
Acknowledgement
Consideration - correct answer ✔✔Consideration
A lease with a term of less than one year...?
Must be in writing
May be oral or in-writing
Must be notarized
Must be oral - correct answer ✔✔May Be Oral Or In-Writing
