CHAMPIONS-LAW OF
CONTRACTS COURSE EXAM
2024/2025 LATEST UPDATE
WITH
ACTUAL VERIFIED NGN
QUESTIONS AND WELL
EXPLAINED 100%
CORRECT ANSWERS WITH
RATIONALES LATEST 2025
UPDATE GRADED A+ WITH 100%
GUARANTEED SUCCESS AFTER
DOWNLOAD
Jake (Seller) and Sarah (Buyer) entered into a contract for the sale of Jake's personal
residence. In the contract, Jake promised to deliver a seller's disclosure of property condition
, within 5 days of the effective date of the contract. Jake never delivered the disclosure as
promised. Which of the following statements is true?
Sarah has the right to terminate the contract and receive a refund of earnest money prior to
closing (Page 24)
Owners within a __________________ do not actually own a specific unit. The entire
cooperative complex is
owned by a corporation. Those who wish to live in the cooperative buy shares in the
corporation, and
receive a proprietary lease on the unit. When listing and selling cooperatives, a real estate
license is often
not required because the sale of a cooperative is the sale of stock rather than real property.
Cooperative
4 rights government has in all real property: PETE
1. police power
2. eminent domain
3. taxation
4. escheat
________ is the right of the government to regulate and control the way land is used.
Police Power
If property violates zoning, the owners must request a __________, which is permission to
violate the rules.
Variance
A claim, lien, charge, or liability attached to and binding real property is a(n) ________.
Encumbrance
A seller of coastal property abutting tidally influenced water must provide the ________.
Notice Regarding Coastal Area Property
The Lead-Based Paint Disclosure is:
A federal requirement for residential property built prior to 1978
An example(s) of an appurtenance would be:
Easement
CONTRACTS COURSE EXAM
2024/2025 LATEST UPDATE
WITH
ACTUAL VERIFIED NGN
QUESTIONS AND WELL
EXPLAINED 100%
CORRECT ANSWERS WITH
RATIONALES LATEST 2025
UPDATE GRADED A+ WITH 100%
GUARANTEED SUCCESS AFTER
DOWNLOAD
Jake (Seller) and Sarah (Buyer) entered into a contract for the sale of Jake's personal
residence. In the contract, Jake promised to deliver a seller's disclosure of property condition
, within 5 days of the effective date of the contract. Jake never delivered the disclosure as
promised. Which of the following statements is true?
Sarah has the right to terminate the contract and receive a refund of earnest money prior to
closing (Page 24)
Owners within a __________________ do not actually own a specific unit. The entire
cooperative complex is
owned by a corporation. Those who wish to live in the cooperative buy shares in the
corporation, and
receive a proprietary lease on the unit. When listing and selling cooperatives, a real estate
license is often
not required because the sale of a cooperative is the sale of stock rather than real property.
Cooperative
4 rights government has in all real property: PETE
1. police power
2. eminent domain
3. taxation
4. escheat
________ is the right of the government to regulate and control the way land is used.
Police Power
If property violates zoning, the owners must request a __________, which is permission to
violate the rules.
Variance
A claim, lien, charge, or liability attached to and binding real property is a(n) ________.
Encumbrance
A seller of coastal property abutting tidally influenced water must provide the ________.
Notice Regarding Coastal Area Property
The Lead-Based Paint Disclosure is:
A federal requirement for residential property built prior to 1978
An example(s) of an appurtenance would be:
Easement
