TEXAS PROMULGATED CONTRACT
FORMS- CH. 1 QUIZ QUESTIONS &
ANSWERS
Consideration - correct answer ✔✔Anything given or promised by a party to induce another to
enter into a contract is referred to as...?
All of the Above - correct answer ✔✔A valid and enforceable contract must include which of
the following elements...?
- Competent parties
- Consideration
- Mutual agreement
- All of the Above
Oral or In-Writing - correct answer ✔✔What can be the format of lease with a term of less than
one year...?
Executed Contract - correct answer ✔✔A contract that has been fully performed is known as
a/an...?
In-progress - correct answer ✔✔An executory contract is...?
Performance Contract - correct answer ✔✔A typical real estate sales contract between a buyer
and seller is considered a/an...?
FORMS- CH. 1 QUIZ QUESTIONS &
ANSWERS
Consideration - correct answer ✔✔Anything given or promised by a party to induce another to
enter into a contract is referred to as...?
All of the Above - correct answer ✔✔A valid and enforceable contract must include which of
the following elements...?
- Competent parties
- Consideration
- Mutual agreement
- All of the Above
Oral or In-Writing - correct answer ✔✔What can be the format of lease with a term of less than
one year...?
Executed Contract - correct answer ✔✔A contract that has been fully performed is known as
a/an...?
In-progress - correct answer ✔✔An executory contract is...?
Performance Contract - correct answer ✔✔A typical real estate sales contract between a buyer
and seller is considered a/an...?
