Texas Law of Contracts Unit 1 Exam Newest Updated Questions & Answers .pdf

Texas Law of Contracts Unit 1 Exam Newest Updated Questions & Answers



Texas Law of Contracts Unit 1
Exam Newest Updated Questions &
Answers

Under the DTPA, all of the following are defined as consumers, except:

a. government agencies.

b. individuals.

c. license holders.

d. corporations and partnerships. - ANSWER ✔ - license holders



In Texas, real estate licensees use contract forms drafted by: - ANSWER ✔ - the Texas Real Estate
Broker-Lawyer Committee



Which statement does not correctly complete the following sentence? A real estate contract:

a. sets forth the rights and obligations of the parties.

b. provides a written record of the transaction.

c. clearly identifies the parties to the contract.

d. does not need to identify the property. - ANSWER ✔ - does not need to identify the property



Real estate licensees who are not licensed attorneys yet engage in the practice of law may: - ANSWER ✔
- have their real estate licenses suspended or revoked



Licensees who use the wrong contract form or incorrectly complete a contract form may be subject to: -
ANSWER ✔ - disciplinary action



To __________ means to publish or print rules and regulations or approved forms for brokers to use. -
ANSWER ✔ - promulgate