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Texas Law of Contracts Exam Questions and Answers
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Texas Law of Contracts Exam Questions and Answers
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Texas Law of Contracts Exam Questionsand Answers
Although licensees cannot offer legal advice, they can: - Correct Answers -explain to
principals the meaning of factual statements contained in contract forms
the broker-lawyer committee has _____ members - Correct Answers -13
the broker-lawyer committee is - Correct Answers -an advisory body that develops and
recommends various contract forms to TREC for use by licensees
under the DTPA, ____ mean work labor, or service purchased or leased for use,
including services furnished in connection with the sale or repair of goods - Correct
Answers -services
under the DTPA, all of the following are defined as consumers, except: - Correct
Answers -license holders
why is knowledge of contract forms and an awareness of contract form changes
important for real estate licensees? - Correct Answers -if a transaction requires a
specific promulgated contract form, the most current version of that form must be used
the supreme law of texas that establishes the fundamental legal rights of its citizens is -
Correct Answers -the Texas Constitution
in Texas, real estate licensees use contract forms drafted by - Correct Answers -the
Texas Real Estate Broker- Lawyer committee
which of the following is the purpose of The Real Estate License Act - Correct Answers -
- protect consumers from loss because of dishonest and incompetent agents
- set minimum standards and qualifications for licensing a real estate broker or sales
agent
- monitor the conduct of real estate brokers and sales agents
all choices
when filling out promulgated contract forms, licensees should - Correct Answers -only fill
in the blanks provided
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