STUDY EXAMS AND STUDY GUIDES SUMMARIES ESSAY ALL VERIFIED

If a buyer decides to terminate a contract, the seller must agree to the termination. A) True B) False - B) False Which of the following, with written, consent, may act as an Intermediary? A) The Broker representing the seller and buyer B) The Broker cooperating with the listing broker C) The salesman working with the seller and buyer D) The salesman sponsored by a broker representing the seller - A) The Broker representing the seller and buyer An agent would use the same con...

1. The effective date- who, what, and when? - Between the buyer and the seller, The date on which the communication was made. The date of initialing and signing of the parties. The last party to initial/Sign fills in the day. 2. What is the legal proceedings brought by party to a contract against another party to compel action call forth in the agreement? - Breach of a contract, one-party defaults, sues for specific performance, seek other relief - arbitration, mediation, injunction to sue fo...

The TREC PROMULGATED CONTRACT FORMS - ARE DRAFTED BY THE BROKER-LAWYER COMMITTEE IN A LEASE WITH A RIGHT OF FIRST REFUSAL PROVISION - THE TENANT HAS THE RIGHT TO MATCH OR BETTER ANY OFFER THE LANDLORD RECEIVES TO PREVENT THE PROPERTY FROM BEING SOLD TREC promulgated contract forms provide for - third party financing, assumption seller finance a lender can withdraw the approval of a property - at any time prior to closing the third party financing addendum for credit approval is us...

Information Needed to Complete Contract Forms - -Elements and Practice 1-4 Family Residential Contract (Resale): The heading of this contract contains; date the contract form was approved by the Commission. License holders must take care to use only the most current version of a contract form. Failure to use the most current version is a violation of the license act. The title of the form reveals its intended use. The contract form is the 1-4 family residential contract (resale). 1-4 means it ca...

If there is no time limit specified in an offer, then the time limit will expire: - Within a reasonable time The clause in a contract stating that "time is of the essence" would indicate: - Strict performance of certain acts within the time stated in the contract. A bilateral contract is: - A promise in exchange for a promise Essential elements of a contract include: - Competent parties, Offer and acceptance, Consideration A unilateral contract only binds one party to perform.(T/F)...

mutual consent - a "meeting of the minds" unilateral contract - a contract in which only one party is obligated to perform unenforceable contract - a contract that cannot be enforced due to some flaw or other issue in the contract elements of a valid and enforceable contract - COLIC (competent parties, offer and acceptance, legal purpose, in writing, consideration) amendment - changes to the contract; common ones include changes to the closing date, changes to the sales price, down...

The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording - B A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) Bilateral (d) Void - A In the business of real estate,...

use of standard contract forms - when negotiating contracts binding the sale, exchange, lease, or rental of property promulgated - issued by TREC for mandatory use by licence holders exceptions - - licencee functioning solely as principal - agency of US Government requires a different form - prepared by principal - no other form exists and is prepared by an attorney- at - law licensed in Texas forms may be reproduced - - numbered copies obtained from TREC - printed copies made from...

The execution of a contract by which the contracting parties are automatically discharged of their obligations under it is known as...? - Performance Which of the following is an example of consideration? - Money, personal services, cash A State law requiring certain contracts to be in writing and signed before they will be enforceable at law is known as the? - Statute of Frauds Which of the following is an example of a forbearance contract? - Options contract A valid contract must b...

When the buyer assumes the sellers loan, the ______ becomes responsible for repayment of the loan as well as any other obligations to the lender. - Buyer Lenders view non-realty items within the real estate contract to be ______, and therefore the value of those items needs to be deducted from the sales price. - Sales concession When completing the contract how should you describe the location of the property - Lot and block legal description The fixtures that are included in the one to...

Right guaranteed by the Bill of Rights - Trial by Jury Federal census every __ years - 10 If a person is indicted for a crime, name two right which he has. - to a speedy trial to a lawyer US senator elected at the general election in November takes office on what date - January 3rd President elected at the general election in November takes office on what date - January 20th Propsed change, as in a Constitution - amendment US Supreme Court term - life span How many states h...

1. Which of the following is a right guaranteed by the Bill of Rights? _____Public Education _____Employment _____Trial by Jury _____Voting - Trial by Jury 2. The federal census of population is taken every five years. _____True _____False - False 3. If a person is indicted for a crime, name two rights which he has. - immediate presentation of charges lawyer; speedy trial. 4. A U.S. senator elected at the general election in November takes office the following year on what date - J...

1965 Alabama Literacy Test Graded A

Which of the following would be considered a speculative risk? - The possibility the painting you bought might be a long-lost masterpiece A speculative risk is one in which there is a chance for either loss or gain. Example: Gambling, Casino's, Lottery, etc. All of the other choices describe pure risk, where there is no chance of gain, only a chance of loss exists. Which is the proper term for a company owned by its policy owners? - A mutual insurance company A producer who is acting a...

what law protects consumers from the circulation of inaccurate or obsolete information? - The Fair Credit Reporting Act Insurers are classified according to their domicile. What are the 3 types of insurers? - domestic, foreign, and alien what type of insurer is a voluntarily formed organization that provides religious organizations with a representative form of government? - Fraternal insurer the type of insurance company organized to return any surplus money to its policyholders is kno...

Chapter 11 - Which of the following structures is the primary pacemaker of the heart? a. Ventricular tissue c. Sinoatrial node b. Atrioventricular node d. Purkinje fibers - ANS: C With an intrinsic rate of 60 to 100 beats/min, the sinoatrial node is the primary pacemaker in a healthy heart. The atrioventricular node beats 40 to 60 beats/min. Ventricular tissue must have an electrical impulse to contract. Purkinje fibers beat 15 to 40 beats/min 3. Why do many patients with very hi...

What are four components of the upper airways? - Nose Oral Cavity Pharynx Larynx conducting zones - the passageways between the ambient environment and the gas exchange units of the lungs (the alveoli) what are the primary functions on the upper airways? - 1) to act as a conductor of air 2) to humidify and warm or cool the inspired air 3) to prevent foreign materials from entering the tracheobronchial tree 4) to serve as an important area involved in speech and smell primary funct...

TOF steps - 1) ionisation 2) acceleration 3) ion drift 4) detection 5) analysis Electron impact - Sample vaporised and electron gun fires high energy electrons at it which knock off 1 electron from each particle, making them 1+ ions NB- can knock off more than one e or break molecular ion electrospray ionization - Sample dissolved in volatile solvent then injected through needle to give fine mist which is attached to positive end of high voltage power supply, particles gain proton ...

Energy Stores - 1) Elastic potential 2) Gravitational potential 3) Thermal 4) Electrostatic 5) Nuclear 6) Chemical 7) Kinetic 8) Magnetic 9) Light 10) Sound How is energy transferred? - 1) Mechanically - force doing work 2) Electrically - work done by moving charges 3) Heating/Radiation - light, sound How can work be done? - When a current flows or by a force moving an object Kinetic energy formula - E=1/2mv² Kinetic energy(J) = 0.5 x mass(kg) x speed²(m/s) Gravitati...

What is meant by work function (2) - Minimum energy required by an electron to escape from (1) a metal surface (1) What is meant by ionisation energy? (2) - Minimum energy required to remove an electron from an atom (1) from the ground state (1) Why do emitted electrons have a kinetic energy that varies up to a maximum value? (4) - Energy of a photon is fixed/constant (1) Energy is required for electrons to overcome work function ø (1) Electrons deeper into/below the surface of the meta...