Law of Contracts - CHAMPIONS TEST 2023 with complete solution

The TREC residential contract forms are: - ans Drafted by the Broker Lawyer Committee Wrongful or criminal deception intended to result in financial or personal gain is called: - ans fraud Under the Deceptive Trade Practices Act, __________ are defined as tangible chattels. - ans goods If a seller will continue to occupy the property for one month after the closing, the buyer and seller should: - ans Enter into a Seller's Temporary Residential Lease The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to exceed: - ans 90 days A seller's disclosure notice is not required - ans at a foreclosure sale The type of law that deals with the relationship between the parties to a transaction, sales agents and brokers is: - ans Law of Agency __________ is the body of laws and regulations enacted by federal and state legislative bodies. - ans Statutory Law __________ extend above the surface without limitation. - ans Air Rights Any man-made addition to land that is permanent, and is considered to become part of the land is known as a(n) __________. - ans Improvement A(n) __________ is an entity created for the benefit of another. - ans Trust An option contract is: - ans Unilateral contract