South Texas College Of Law

Texas Promulgated Contracts Exam

Promulgated Contract Forms Solution Guide - Texas

Texas Promulgated Contracts - CHAMPIONS STUDY 2023-2024

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 A federal disclosure requirement for resident...

If a Buyer wants the Seller to pay some or all of their closing costs, it should be added to the contract in: A) Paragraph #11 (Special Provisions) B) Paragraph #12 - Seller participation in the Buyer's costs C) Third Part financing Addendum D) All of the above B) Paragraph #12- Seller participation in the Buyer's costs If a Buyer chooses not to be represented by an agent, the Buyer must be made aware that any information they share can be communicated to the Seller. A) True B) F...

The responsibilities of the Texas Real Estate Commission include all of the following EXCEPT: a. granting licenses to applicants b. regulating brokerage fees c. protecting the public interest d. regulation the activities of licensees b. regulating brokerage fees The Texas Real Estate Broker-Lawyer Committee consists of how many members? a. 13 b. 9 c. 62 d. 18 a. 13 AD A Competitive Market Analysis (CMA) is most often prepared by a/an: a. inspector b. lender c. real esta...

When a "fixture" in a property does not remain for the buyer, how do we inform the buyer of that fact and make sure the item does not convey with the property? Paragraph 23 "termination option" of the TREC 1-4 Family Residential Contract: If a Buyer wants the Seller to pay some or all of their closing costs, it should be added to the contract in: If a Buyer chooses not to be represented by an agent, the Buyer must be made aware that any information they share can be commun...

Promulgated Contract Forms (Champions) Questions with complete Solutions mutual consent unilateral contract unenforceable contract elements of a valid and enforceable contract amendment addenda assignment novation statute of limitations reasons for termination bilateral contract executory contract promulgated forms counteroffer offeror Buyer's or Seller's Temporary Residential Lease offer must be presented... options when responding to an ...

Champions Real Estate Finance Questions and Answers Loan-to-Value Ratio (LTV). Package Mortgage Blanket Mortgage. Wraparound Mortgage. Open-End Mortgage. Budget Mortgage Collateral -Dependent Loans Character. Capacity. Capital. Collateral Yield Originator. Mortgage Broker) Mortgage Banker Correspondent Lender. Processing. Underwriting. Closing Servicing. Supply and Demand Funding The Safe Act M1. M2 Fiat Money Monetary Policy ...

Real Estate Finance I-CHAMPIONS TEST WELL ANSWERED!!! The minimum downpayment on a VA loan is: (a) 2% of the sales price (c) 3.75% of the sales price (d) 1% of the sales price _________ is the process of creating a new mortgage loan. (b) Funding (c) Underwriting (d) Servicing A veteran can have more than one VA loan: (a) If the prior VA loan was paid in full and the property disposed of (b) The prior VA loan was assumed by an eligible veteran who sub...