Law of Contracts - CHAMPIONS TEST
Questions and Answers (Verified Answers)
1. Wrongful or criminal deception intended to result in financial or personalgain is called
fraud
2. The Buyer and Seller Temporary Residential Lease forms may be used fora lease period
not to exceed
90 days
3. extend above the surface without limitation.
air rights
4. An example(s) of an appurtenance would be
easements
5. There is no upper limit on the value of a Texas homestead.
true
1/5
, 6. A(n) is one that combines some of the elements of a sale witha lease.
lease purchase agreement
7. Which of the following requires a contract for the conveyance of real estateto be in writing
to be enforceable?
statute of frauds
8. If a broker receives more than one offer on a property
All must be present-ed to the seller unless the seller has instructed the broker otherwise
9. The most common form of financing used by buyers is
third party financing
10. A(n) is a provision in a contract that requires that a certainact or event
happens in order for the contract to be binding on the party. –
contingency
2/5
Questions and Answers (Verified Answers)
1. Wrongful or criminal deception intended to result in financial or personalgain is called
fraud
2. The Buyer and Seller Temporary Residential Lease forms may be used fora lease period
not to exceed
90 days
3. extend above the surface without limitation.
air rights
4. An example(s) of an appurtenance would be
easements
5. There is no upper limit on the value of a Texas homestead.
true
1/5
, 6. A(n) is one that combines some of the elements of a sale witha lease.
lease purchase agreement
7. Which of the following requires a contract for the conveyance of real estateto be in writing
to be enforceable?
statute of frauds
8. If a broker receives more than one offer on a property
All must be present-ed to the seller unless the seller has instructed the broker otherwise
9. The most common form of financing used by buyers is
third party financing
10. A(n) is a provision in a contract that requires that a certainact or event
happens in order for the contract to be binding on the party. –
contingency
2/5
