Liquidated damages - Study guides, Class notes & Summaries

What are liquidated damages? Liquidated damages are procured from selling property Liquidated damages are in excess of actual damages Liquidated damages are specified in a contract in case of breach of contract Liquidated damages are in addition to those specifically stated in a contract - Answer When the broker gets a listing, the broker is the agent and the principal broker is the sub-agent. True False - Answer False The principal broker is the agent of the seller;...

Back Pay - ️️The monetary relief to reimburse wages and/or benefits lost as a result of unlawful discrimination or wrongful termination;; Wages the employee would have earned but for the unlawful treatment by the employer minus any amount the employee was able to earn in the interim Americans with Disabilities Act ADA - ️️A federal statute that protects disabled (physical or mental) individuals from employment discrimination and requires employers to offer reasonable accommodations...

A buyer creates liquidated damages in the sales contract by (Ans- Doing nothing, the contract will default to liquidated damages Colorado Common Interest Ownership Act requires: (Ans- real property to be described in a declaration which obligates an individual unit owner to pay property tax, ins. premiums, maintenance or improvement on some declared real property owned in common When legal complications in a sales contract are beyond the expertise of the broker, the broker should alway...

Gold Coast Final Exam Questions and Answers 100% Solved What is the form you sign that says you will pay the loan back ? promissory note What is the post licensing grace period after first expiration ? none Deposits is a form of... valuable consideration Physical land and improvements real property Is it a violation if a sales associate work for two brokers Monday-Friday, and Saturday and Sunday and getting paid commission from both Yes What is the maximum fine per offense ? $5,000 per fine...

LEB 320F FINAL EXAM QUESTIONS AND ANSWERS GRADED A+ What is the difference between "executed" and "executory" contracts? An executed contract is one where all parties have fulfilled their obligations, while an executory contract has ongoing obligations that have not yet been completed. How does "statute of frauds" affect contract enforcement? The statute of frauds requires certain types of contracts to be in writing to be enforceable, such as contracts for real estate transa...

D Correct Answer-If a purchaser breaches a valid and enforceable sales contract, the seller may at his/her option: * A. declare the contract forfeited and retain as liquidated damages any payments received from the buyer. B. rescind the contract and return any payments received from the buyer. C. sue for specific performance. D. Any of the other answers are correct. A Correct Answer-All of the following are examples of how a contract may be discharged EXCEPT: * A. assignment by the purch...

Question 1 Office manager fired the office receptionist. Manager asked nicely for the set of office keys in the receptionist's hand. Receptionist said no. Smiling politely, the manager grabbed the keys from the fired employee. If employee sues the manager, what is the most likely cause of action? a. Intentional tort of trespass to person b. Intentional tort of defamation c. Intentional tort of battery d. Intentional tort of assault correct answers c. Intentional tort of battery Ques...

CNST 302 Test 2 - Questions and Answers Prime contractors can obtain sets of bidding documents from these sources except _____. a)Plan center b)Plan room c)On-line library d)Sweets e)Dodge Reports f)Owner g)A-E The amount of profit a bidder includes is a factor of a)Extent of perceived risk b)Level of expected competition c)Project duration d)The particular client e) All of the above One of the current trends in risk management is towards centralized control of all project insurance. True Why ...

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. Monetary Damages - The injured party may "seek such other relief as may be provided by law." This would be an award of monetary damages by the court. Because monetary damages are awarded by the ...

7 protected classes in fair housing act Correct Answer-Race, color, religion, national origin, sex, disability, familial status Significant influences on rent/prices in the real estate market? Correct Answer--global influences (recession, exchange rates, ntnl disaster) -national influences (tax laws, interest rates) - local influences (employment trends, social patterns, changes in development) Reasons for Movement between cities Correct Answer--overcrowding and high cost of living -we...