TEXAS PROMULGATED CONTRACTS
Liberty University
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Exam (elaborations)
Texas Promulgated Contracts-CHAMPIONS STUDY 2023 WITH COMPLETE SOLUTIONS GRADED A+ (PROVIDES FULL EXPLANATIONS)
The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, 
and ___________. 
(a) Default 
(b) Mutual consent 
(c) Property condition 
(d) Recording - ANSWER B 
A(n) __________________ contract is defined as a contract that is binding on the parties, with one or 
more of the parties having contractual duties that have not yet been performed. 
(a) Executory 
(b) Executed 
(c) Bilateral 
(d) Void - ANSWER A 
In the business of real estate, ___________...