LAW OF CONTRACT FINAL EXAM
2026 Questions and Answers 100% Pass
|Already Graded A+| Verified and
Updated
Involuntary alienation is not done with:
A) Escheat
B) Will
C) Adverse possession
D) Eminent domain - correct answer -B) Will
"QUID PRO QUO" describes what kind of contract?
A) Unilateral contract
B) Bilateral contract
C) Valid contract
D) Void contract - correct answer -B) Bilateral contract
,FNMA, FHLMC, GNMA, REITS describes:
A) Primary markets
B) Secondary markets
C) Regions of the Federal Reserve
D) Mortgage lenders - correct answer -B) Secondary markets
The definition of real estate includes the bundle of legal rights.
A) True
B) False - correct answer -B) False
If an individual is forced to sign a contract under duress or undue
influence, what kind of contract is it?
A) Valid
B) Void
C) Voidable
, D) Unenforceable - correct answer -C) Voidable
All items attached to the property are considered real property and
convey to the buyer.
A) True
B) False - correct answer -B) False
This law gives each individual the right to inspect his file, correct any
errors and make explanatory statements to supplement the file.
A) FAIR CREDIT REPORTING ACT
B) EQUAL CREDIT OPPORTUNITY ACT
C) RESPA
D) TRUTH IN LENDING - correct answer -A) FAIR CREDIT REPORTING
ACT
Which document speaks specifically to real estate issues?
2026 Questions and Answers 100% Pass
|Already Graded A+| Verified and
Updated
Involuntary alienation is not done with:
A) Escheat
B) Will
C) Adverse possession
D) Eminent domain - correct answer -B) Will
"QUID PRO QUO" describes what kind of contract?
A) Unilateral contract
B) Bilateral contract
C) Valid contract
D) Void contract - correct answer -B) Bilateral contract
,FNMA, FHLMC, GNMA, REITS describes:
A) Primary markets
B) Secondary markets
C) Regions of the Federal Reserve
D) Mortgage lenders - correct answer -B) Secondary markets
The definition of real estate includes the bundle of legal rights.
A) True
B) False - correct answer -B) False
If an individual is forced to sign a contract under duress or undue
influence, what kind of contract is it?
A) Valid
B) Void
C) Voidable
, D) Unenforceable - correct answer -C) Voidable
All items attached to the property are considered real property and
convey to the buyer.
A) True
B) False - correct answer -B) False
This law gives each individual the right to inspect his file, correct any
errors and make explanatory statements to supplement the file.
A) FAIR CREDIT REPORTING ACT
B) EQUAL CREDIT OPPORTUNITY ACT
C) RESPA
D) TRUTH IN LENDING - correct answer -A) FAIR CREDIT REPORTING
ACT
Which document speaks specifically to real estate issues?
