Law of Contracts Study guides, Class notes & Summaries

LAW OF CONTRACTS - CHAMPIONS TEST 2024 QUESTIONS AND ANSWERS PASSED AND VERIFIED. The TREC residential contract forms are: - CORRECT ANSWER Drafted by the Broker Lawyer Committee Wrongful or criminal deception intended to result in financial or personal gain is called: - CORRECT ANSWER fraud Under the Deceptive Trade Practices Act, __________ are defined as tangible chattels. - CORRECT ANSWER goods If a seller will continue to occupy the property for one month after the closing, the ...

The TREC residential contract forms are: - CORRECT ANSWER Drafted by the Broker Lawyer Committee Wrongful or criminal deception intended to result in financial or personal gain is called: - CORRECT ANSWER fraud Under the Deceptive Trade Practices Act, __________ are defined as tangible chattels. - CORRECT ANSWER goods If a seller will continue to occupy the property for one month after the closing, the buyer and seller should: - CORRECT ANSWER Enter into a Seller'...

LAW OF CONTRACTS CHAMPIONS PRACTICE AND STUDY GUIDE EXAMS LATEST 2024 ACTUAL EXAMS WITH CORRECT QUESTIONS AND VERIFIED ANSWERS ALREADY GRADED A+ 100% GUARANTEED PASS!!!

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Counteroffer - A buyer makes an offer, the seller wants to accept the offer if the buyer will agree to a change in price. In these circumstances, the seller will give the buyer a Statute of Frauds - What law requires certain types of contracts to be enforceable? Addresses in the sales contract - the buyer and the seller have agreed that the seller will remove a huge birdbath in the backyard before the buyer takes possession of the property. This agreement should be

When a party to a contract fails to perform under the contract, that party is in... - Default Failure to perform is also commonly referred to as... - Breach of contract Default remedies: (2 types) - -Buyer default: In the event of default by the buyer, the seller may have several options -Seller default: In the event of default by the seller, the buyer becomes the injured party. Types of damages: - -Liquidated damages -Monetary damages -Specific performance Liquidated damages: - The sell...

All of the following acts on the part of a real estate broker would constitute steering and thus be prohibited under the Fair Housing Act EXCEPT: A) directing a prospective buyer of one minority group to work only with a salesperson of the same minority group and to look at areas dominated by that minority group B) directing a member of one minority group away from properties located in areas dominated by other races C) referring a member of one minority group to properties located only in...

Which of the following is a requirement for a Texas real estate agent license? - Show competency by passing the license exam An active sale agent license may only be issued under.... - The sponsorship of a licensed broker A license holder must NOT prepare which of the following documents? - A license holder must not prepare any of these documents When Myra told Kristina that the roofing contractor only uses "top-of-the-line material" and that the roof should last a very long time, she w...

This generally refers to a governmental entity's legal authority to force a private landowner to sell his or her real property for public use. A) Condemnation B) Taxation C) Police power D) Eminent domain - D) Eminent domain Precedents are determined by: A) Statutory Law B) Case law C) TRELA D) DTPA - Wrong A) Statutory Law?

A sale and leaseback agreement is: - a way for landowners to free up capital while maintaining the same overhead expenses With net leases, each added "net" requires a tenant to pay for an additional expense that may have otherwise fallen on the landlord. All of the following are expenses that could be paid under a net lease EXCEPT: - debt interest (Any lease that requires a tenant to pay rent, property taxes, insurance, and maintenance expenses is a triple-net lease.) What allows the co...