Law of Contracts:Law of Contracts Package Deal :Contract Law Exam Study Guide:Law of Contracts Exam Preparation:Law of Contracts - Champions Test:Texas Law of Contracts:Law Of Contracts Exam Study Guide:Texas Law of Contracts Exam .

All of the following acts on the part of a real estate broker would constitute steering and thus be prohibited under the Fair Housing Act EXCEPT: A) directing a prospective buyer of one minority group to work only with a salesperson of the same minority group and to look at areas dominated by t...

adaptation (Ans- the use and modification of a particular item for a specific use in a property — specific use for a property could deem an item as real property Annexation (Ans- attaching (or affixing) personal property to real estate in a way that transforms the personal property into rea...

The TREC residential contract forms are: (Ans- Drafted by the Broker Lawyer Committee Wrongful or criminal deception intended to result in financial or personal gain is called: (Ans- fraud Under the Deceptive Trade Practices Act, __________ are defined as tangible chattels. (Ans- goods ...

Drafts and revises contract forms for use in real estate transactions in the state of Texas. a. Promulgated forms b. Intentionally c. Puffing d. Deceptive Trade Practices Act e. Broker-Lawer Committee (Ans- E Forms published by TREC that are mandatory for license holders to use in real e...

allodial system (Ans- system of ownership in which land is owned completely, without an obligation of services or duties to another conventional life estate (Ans- a type of freehold life estate created by a deed or will that lasts for the duration of the tenant's life deed restriction (...

Abstract of Title: (Ans- An abbreviated history of a property, including info on any transfers, grants, wills, conveyances, liens, and encumbrances. Example: Before Alice purchases the house on 1701 J J Solice Drive, she should ask for the property's abstract of title. Addendum: (Ans- An ...

abstract of title (Ans- an abbreviated history of a property, including info on any transfers, grantts, wills, conveyances, liens, and encumbrances acceleration clause (Ans- clause in a security instrument (mortgage/deed of trust) which makes the entire loan amount due immediately upon defaul...

Default of contract and types of damages (pg 137) (Ans- Liquidated Damages - The seller can choose to accept the buyer's earnest money as liquidated damages, releasing all parties from any further obligation under the contract. Liquidated damages are damages that are established in the contract...

common law (Ans- the side of law which arises from judgements and decisions made in courts rather than explicit legislation statutory law (Ans- law formally created by lawmakers improvement (Ans- any non-natural structure built on or affixed to land real estate (Ans- a part of the s...

The DTPA helps protect...? Agents Consumers Sellers Attorneys (Ans- Consumers In order to help prevent the buyer from withdrawing their offer, when should a seller provide a prospective buyer with the property disclosure form...? After the contract is signed with the prospective buyer B...

While previewing a house, the salesperson notices water stains behind the draperies. the owner, when asked, denied there were any water problems. If the salesperson shows the property and fails to mention the water stains, the salesman is guilty of: a. fraud b. misrepresentation c. nothing, becau...

Describe at least two requirements under TRELA. (Ans- Act created by Texas Congress 1) All professionals are licensed 2) Use same policy, procedures, and forms. Providing correct documentations and forms during a transaction. TREC wanted to get things standardized. TREC was created in 1949 and tha...

actual damages (Ans- monetary compensation given to an injured party for losses that were a result of the actions or omissions of another party breach of contract (Ans- occurs when the terms or conditions of a contract have been violated competent (Ans- the mental capacity of an individu...

Which of the following are NOT included in the description of land? a. The earth's surface extending downward to the center of the earth. b. A sewer system. c. Trees and water on the earth's surface. d. Formations such as hills and plateaus. (Ans- b. A property is owned as joint tenants. ...