Promulgated Contracts Practice Exam Questions and Answers

Promulgated Contracts Practice Exam Questions and Answers The lender holding the note on a property must approve a short sale or the contract will be a) terminated. b) amended to the amount owed. c) transferred to another lender. d) counteroffered. ANSWER terminated. If a payment is made 10 or more days after the due date, what late fees are charged under the Seller Financing Addendum TREC 26-6? a) 1% of the sales price b) 2% of the payment amount c) 5% of the payment amount d) A $100 flat fee ANSWER 5% of the payment amount The _______________ means that a judge's interpretation of a disputed contract clause is influenced by the document as a whole. a) Four Corners Doctrine b) Four Squared Rule c) Civil Due Process Doctrine d) Fourth Promulgation Rule ANSWER Four Corners Doctrine When should a buyer be notified that his contract has been accepted by the seller?