Must disclose in writing Study guides, Class notes & Summaries

Texas Principles of Real Estate II Final Exam| Questions and Verified Answers| Grade A| 2023/ 2024 Update Q: a lease for one year or less Answer: the only contract that does not have to be in writing to be enforceable Q: Attorney in Fact Answer: a person holding a power of attorney Q: substitution of a contract with another contract ie. counteroffer Answer: Novation Q: when one party fails to perform the duties of the contract-they can be asked by judge ...

Texas Promulgated Contracts-CHAMPIONS STUDY 2022-2023. 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 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) Bilatera...

CSLB CONTRACTOR'S EXAM PRACTICE QUESTIONS AND ANSWERS LATEST UPDATE 2023-2024. Which act establishes the rights of workers to organize into unions and negotiate contracts? - Answer National Labor Relations Act of 1935 A contractor has had a problem with employees stealing tools and equipment from job sites. When conducting job interviews, may the contractor ask prospective employees about their arrest records? A. It is legal to ask prospective employees about arrests not leading to convi...

When should a licensee disclose to the parties whom their firm intends to represent in a transaction? - ANSWER Disclosure should be made verbally and in writing to all parties as soon as possible. A selling broker desires to represent a purchaser in a real estate transaction while at the same time act as a subagent of the listing broker and seller. Could the broker perform both of these functions in the same transaction? - ANSWER No, when a broker working with a buyer acts as a subagent...

Experts suggest "written" is best: INFORMED CONSENT: *Should be Company Letterhead *Good for length of treatment *Office policies *Patient Signature* Four Requirements: 1. Capacity 2. Comprehension of INFORMATION 3. Voluntary 4. Document - Informed consent *At the outset of treatment..." *First or second session No later than the third session "If it isn't written down, it didn't happen" - Informed Consent: When to Inform? Patients must be located only in jurisdictions wher...

A Tennessee licensee must use the "Exclusive Right to Sell" form required by the licensee's broker. According to the level of authority delegated to the agent, the usual real estate agency is a limited agency. When must the contract be in writing? John is agreeing to sell his shed to Shawn for $1,000. One disadvantage in using active listings for comparables is they provide somewhat dubious comparisons because listing prices are not selling prices. Why is it sometimes necessary to inclu...

Fiduciary Representation - Answer- - Trust and confidence - Best interests - Loyalty 5 Ds of Role Clarity - Answer- 1. Discuss 2. Determine 3. Document 4. Disclose 5. Do Must disclose in writing - Answer- - the nature of services provided - whether professional has entered into representation relationship with other party - any conflicts of interest - any other facts that may influence consumers decision to proceed with relationship made to clarify and provide proof of undertan...

A licensee may accept compensation from: - ANSWER-The licensees employing broker only When a licensee uses a licensee buyout addendum you are putting the seller on notice that: - ANSWER-The buyer is a licensee, the buyer may make a profit and the seller may incur a loss. When must a listing broker disclose to a potential buyer the broker's working relationship with the seller? - ANSWER-In writing before receiving or eliciting confidential information Agent Mike is the broker owner of A...

NYC Home Improvement Exam Questions and Answers Latest (Graded 100%). DOB - ANSWER Department of Buildings DCA - ANSWER Department of Consumer Affairs DOT - ANSWER Department of Transportation What is home improvement? - ANSWER The construction,repair, replacement, remodleing, alteration, comversion, rehabilitation, renovation, modernization, improvement, or addition to any land or building or any part of the land or building used or designed to be used as a residence or dwelling place, i...

PA Motor Vehicle Damage Appraiser's License Questions and Answers 100% Pass Applicant Age 18 years or older How long do you have to wait to be eligible to retake an examination if you fail? 30 days The Commissioner will prescribe the form of the appraiser's license and it will contain: Name of the appraiser Address of the appraiser's place of business Date of issuance and expiration date of license Any other information which the commissioner determines is necessary Experience and Fitness ...