Gold Coast final Exam Questions With Correct Answers
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Course
Gold Coast
Institution
Gold Coast
Gold Coast final Exam Questions With
Correct Answers
Actual notice - answerown it
Constructive notice - answerrecord something in public records
How Is Real Estate Recovery Funded ? - answerby fees & fines
Eminent Domain - answergovernment has right to take away public use citizens can't refus...
How many square feet are in an acre? - answer✔43,560
kickbacks are illegal unless.. - answer✔someone has a licensed
Offer and Acceptance - answer✔Meeting of the minds or mutual agreement- all parties
concerned understand and agree to all the terms of the contract
Overimprovement - answer✔An addition or change to property not in line with its highest and
best use
statue of frauds - answer✔provides protection against fraud in the sale of real property. requires
contract for the transfer of a right or interest in land
statute of limitations (oral contracts) - answer✔if contract is entirely oral, action must be brought
within 4 years
statue of limitations (written contracts) - answer✔if contract is entirely written, action must be
brought within five years
Sufficient Consideration - answer✔either valuable or good consideration may be sufficient
WILD CARD - answer✔Withdrawal, insanity, lapse of time, death of either party ,counteroffer,
acceptance,rejection,destruction of property
option contract define - answer✔right to buy a property during a specified period-of-time, at a
specified price.
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