Texas Law of Contracts Unit 2 Questions & Answers Latest Update
Texas Law of Contracts Unit 2
Questions & Answers Latest
Update
Real estate generally includes all of the following EXCEPT
A. trees.
B. air rights.
C. annual crops.
D. mineral rights. - ANSWER ✔ - C. annual crops.
- Annual crops, also known as emblements, are considered personal property.
When an owner of real estate sells the property to someone else, which of the sticks in the bundle of legal
rights is the owner, as seller, using?
A. Exclusion
B. Legal enjoyment
C. Control
D. Disposition - ANSWER ✔ - D. Disposition
- The right of disposition allows property to be sold, willed, transferred, or otherwise disposed of.
The buyer and the seller of a home are debating whether a certain item is real or personal property. The
buyer says it is real property and should convey with the house; the seller says it is personal property and
would not convey without a separate bill of sale. In determining whether an item is real or personal
property, a court would NOT consider which of the following?
, Texas Law of Contracts Unit 2 Questions & Answers Latest Update
A. The cost of the item when it was purchased
B. Whether its removal would cause severe damage to the real estate
C. Whether the item is clearly adapted to the real estate
Any relevant agreement of the parties in their contract of sale - ANSWER ✔ - A. The cost of the item when
it was purchased
- The cost of the item has no bearing on the decision of whether it is real or personal property.
A buyer purchased a parcel of land and immediately sold the mineral rights to an oil company. The buyer
gave up which of the following?
A. Air rights
B. Surface rights
C. Subsurface rights
D. Occupancy rights - ANSWER ✔ - C. Subsurface rights
- The mineral rights would be subsurface rights because the minerals are located in land below the surface.
A homeowner is building a new enclosed front porch on his home. A truckload of lumber has been left in
his driveway for use in building the porch. At this point, the lumber is considered
A. real property because it will be permanently affixed to the existing structure.
B. personal property.
C. personal property waiting to become a fixture.
D. a trade or chattel fixture. - ANSWER ✔ - B. personal property.
- The lumbar is still personal property when it is delivered; it becomes real property after it has been built
into the structure.
Texas Law of Contracts Unit 2
Questions & Answers Latest
Update
Real estate generally includes all of the following EXCEPT
A. trees.
B. air rights.
C. annual crops.
D. mineral rights. - ANSWER ✔ - C. annual crops.
- Annual crops, also known as emblements, are considered personal property.
When an owner of real estate sells the property to someone else, which of the sticks in the bundle of legal
rights is the owner, as seller, using?
A. Exclusion
B. Legal enjoyment
C. Control
D. Disposition - ANSWER ✔ - D. Disposition
- The right of disposition allows property to be sold, willed, transferred, or otherwise disposed of.
The buyer and the seller of a home are debating whether a certain item is real or personal property. The
buyer says it is real property and should convey with the house; the seller says it is personal property and
would not convey without a separate bill of sale. In determining whether an item is real or personal
property, a court would NOT consider which of the following?
, Texas Law of Contracts Unit 2 Questions & Answers Latest Update
A. The cost of the item when it was purchased
B. Whether its removal would cause severe damage to the real estate
C. Whether the item is clearly adapted to the real estate
Any relevant agreement of the parties in their contract of sale - ANSWER ✔ - A. The cost of the item when
it was purchased
- The cost of the item has no bearing on the decision of whether it is real or personal property.
A buyer purchased a parcel of land and immediately sold the mineral rights to an oil company. The buyer
gave up which of the following?
A. Air rights
B. Surface rights
C. Subsurface rights
D. Occupancy rights - ANSWER ✔ - C. Subsurface rights
- The mineral rights would be subsurface rights because the minerals are located in land below the surface.
A homeowner is building a new enclosed front porch on his home. A truckload of lumber has been left in
his driveway for use in building the porch. At this point, the lumber is considered
A. real property because it will be permanently affixed to the existing structure.
B. personal property.
C. personal property waiting to become a fixture.
D. a trade or chattel fixture. - ANSWER ✔ - B. personal property.
- The lumbar is still personal property when it is delivered; it becomes real property after it has been built
into the structure.
