Contract law Study guides, Class notes & Summaries

LAW OF CONTRACTS CHAMPIONS Real Actual Exam Questions And Revised Correct Answers Already Passed!! A contract in which only one party is obligated to perform is a________ contract. - ANSWER : unilateral For tax prorations: - ANSWER : If taxes are not paid at or prior to closing the buyer shall pay for the current year, If taxes for the current year vary from the amount prorated at closing, the parties shall adjust the prorations when tax statements for the current year are...

acceptance - correct answer -(1) In contract law, the offeree's notification to the offeror that the offeree agrees to be bound by the terms of the offeror's proposal. (2) In negotiable instruments law, the drawee's signed agreement to pay a draft when presented. agreement - correct answer -A meeting of two or more minds in regard to the terms of a contract; usually broken down into two events—an offer by one party to form a contract, and an acceptance of the offer by the person to whom ...

New York Real Estate Salesperson Exam Questions and Answers Article 12A: NYS Real Property Law - Answer ️️ -"Real Estate License Law" - violation is a misdemeanor punishable by loss of license, $1000 fine, revoking of license - all salespersons have license suspended - after 1 year broker can apply to get license back Capital Gains Tax Exemption - Answer ️️ --profit from sale that is taxed - single person has first $250,000 tax free - married couple $500,000 tax free Property ...

Logistics Management - ANSWER-The discipline responsible for the movement, routing, distribution, transportation, and coordination activities that apply to goods delivery and/or service performance. Mode - ANSWER-The type of average that indicates the most frequent instance of a number or happening. The number in a distribution that occurs most frequently. Carload - ANSWER-The minimum weight, as defined by law, of a shipment entitled to a reduced freight rate. The shipment amount that fill...

If a buyer decides to terminate a contract, the seller must agree to the termination. A) True B) False - Answer- B) False Which of the following, with written, consent, may act as an Intermediary? A) The Broker representing the seller and buyer B) The Broker cooperating with the listing broker C) The salesman working with the seller and buyer D) The salesman sponsored by a broker representing the seller - Answer- A) The Broker representing the seller and buyer An agent would ...

Rockwell Real Estate Final Exam Questions and Answers Latest 2023/2024. The interest that passes to a designated person upon the death of a life tenant (or other measuring life) is a fee simple estate. Will has a remainder interest only up until the moment Ben dies. Once Ben is dead, Will's interest immediately becomes a fee simple interest. A buyer accepts a general warranty deed from a seller, believing that the seller is the sole owner of the property. The buyer later finds out that the...

Law of Agency-Final Exam Review (2024/2025) Already Graded A What are the minimum services an agent must offer; According TRELA subchapter 1101.557b states a broker representing a party or listing real estate for sale is the party's agent and 1. May not instruct another broker to directly or indirectly violate the sub chpt-1101.65b22, 2.Must inform the party if the broker Receives material information related to the transaction to list, buy, sell, or lease the parties real estate, including th...

Law of Large numbers : Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest : Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and casualty insurance Risk : Chance of loss; uncertainty of loss Speculative Risk : Involves the simultaneous chance of gain or loss: is not insurable Pure Risk : a risk that presents the chance of loss but no opportunity for gain (insura...

BUL 4422 Exam 1 2024 Questions and Answers 100% Correct(Graded A) Three sources of laws that interpret sales contracts exist: - ANSWERS1. state common law 2. the uniform commercial code, and 3. state statutory law Every state except _________ has adopted Article 2 of the UCC. - ANSWERSLouisiana. Louisiana's civil tradition is based on Code Napoleon, or the French Civil Code. Article 2 describes ________ of goods, while Article 2(A) describes the __________ of goods. - ANSWERSArti...

A real estate professional who helps clients choose among the various alternatives involved in purchasing, using, or investing in property is A) a real estate appraiser. B) a real estate educator. C) a home inspector. D) a real estate counselor. - ANSWER The answer is a real estate counselor. A real estate counselor advises and guides investors and other buyers The scope of the property manager's work depends on the terms of the individual employment contract, known as A) a perf...