Law of contracts practice - Study guides, Class notes & Summaries

In ______the Texas Real Estate Commission was established to administer and enforce the TRELA. a. 1939 b. 1929 c. 1949 d. 1993 correct answersc. 1949 TREC has only _______ promulgated lease forms. a. 1 b. 2 c. 3 d. 4 correct answersb. 2 In the TAR® Seller's Disclosure the seller should _______. a. prepare the disclosure when the listing is taken b. be the only one completing this form or any part of it c. none of the above d. both a and b correct answersd. both a and b ...

Law of Contracts Practice Exam Champions 2023 with a Complete Solution.

The purpose of the TRELA is to... protect the public protect real estate brokers from unscrupulous salespeople keep the cost of real estate services under control protect real estate license holders - correct answer--protect the public The DPTA is a consumer protection law which protects the public from false or misleading acts deceptive acts unconscionable acts all of these - correct answer--all of these Which action might leave a license holder open to ...

Law of Contracts Practice Exam Champions 2024

1. In the Texas Real Estate Commission was established to administer and enforce the TRELA. a. 1939 b. 1929 c. 1949 d. 1993 ANS c. 1949 2. TREC has only promulgated lease forms. a. 1 b. 2 c. 3 d. 4 ANS b. 2 3. In the TAR Seller's Disclosure the seller should . a. prepare the disclosure when the listing is taken b. be the only one completing this form or any part of it c. none of the above d. both a and b ANS d. both a and b 4. Which of the following can result in a license ...

Your buyer client, Jacob, is planning to obtain financing for a new home. What should his first step be? - ANSWER Obtain a pre-qualification letter. Sondra thinks the new business contract she signed with her business partner is valid. Both parties are legally competent, the contract has a legal purpose, an offer was made and accepted, and a fee has been negotiated and documented. Which essential element of a valid contract has Sondra not yet considered? - ANSWER Whether consent was voluntary...

What is a method of withdrawing from a contract without actually canceling it? - ANSWER Assignment When someone who is a tenant in common with another person dies, the deceased person's interest in the estate is transferred to the - ANSWER deceased person's heir. What type of funds MUST be deposited by the second working day after the effective date of the contract? - ANSWER earnest money What is one limiting factor put on urban homesteads and rural homesteads? - ANSWER There are limi...

NYLE Practice Questions with Complete and Verified Answers Joseph obtained a lawyer for a limited scope representation. He went to his lawyer’s office to explain a problem he had with a contract for a home he wanted to buy. Joseph told his lawyer that his end result was to have the home, and not to be compensated with money. Which of the following remedies should the lawyer NOT proffer? A. Notice of pendency B. Attachment C. Preliminary Injunction D. None of the above (B) "An or...

Law of Contracts Practice Exam Champions 2024

TX-Brokerage (SAE) Questions with correct Answers 2024 The _____ is required to ascertain that Brokers are aware of all of their responsibilities. Texas Real Estate Commission The _____ course is to address the regulatory aspects of the management, operation and supervision of a real estate brokerage firm in Texas. The course provides an understanding and working knowledge of a broker's responsibilities and obligations under 22 TAC §535.2. Broker Responsibility MCE Who Must Ta...