Texas promulgated forms Study guides, Class notes & Summaries

The execution of a contract by which the contracting parties are automatically discharged of their obligations under it is known as...? - Performance Which of the following is an example of consideration? - Money, personal services, cash A State law requiring certain contracts to be in writing and signed before they will be enforceable at law is known as the? - Statute of Frauds Which of the following is an example of a forbearance contract? - Options contract A valid contract must be ____...

When a contract contains all of the essential elements that make it legally sufficient or enforceable and is binding in a court of law, it is - The answer is valid. A valid contract meets all of the required essential elements (i.e., offer and acceptance, consideration, legal purpose, consent, and legal capacity). A valid legal contract must have - legally competent parties. The parties must be of legal age and have enough mental capacity to understand the nature or consequences of their act...

Promulgated Contract Forms: Final Exam 2024 Questions and Answers 100% VerifiedPromulgated Contract Forms: Final Exam 2024 Questions and Answers 100% VerifiedPromulgated Contract Forms: Final Exam 2024 Questions and Answers 100% Verified When earnest money is deposited with an escrow agent, the escrow agent: - ANSWER-A) Is not responsible for the performance of any signatory B) Has the right to secure written release of all signatories C) Is not liable for interest on the money How does th...

Texas Promulgated Forms-CHAMPIONS (2023/2024) Newest Questions and Answers (Verified Answers)

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...

When a contract contains all of the essential elements that make it legally sufficient or enforceable and is binding in a court of law, it is - The answer is valid. A valid contract meets all of the required essential elements (i.e., offer and acceptance, consideration, legal purpose, consent, and legal capacity). A valid legal contract must have - legally competent parties. The parties must be of legal age and have enough mental capacity to understand the nature or consequences of their act...

RE - Texas Promulgated Forms 2024 Questions with Accurate Answers Which of these promulgated forms does NOT include "Time is of the essence"? Loan Assumption Addendum A couple starts celebrating the sale of their home after their listing agent calls them with the news that they've received an acceptable offer. The listing agent says he is coming over to get their acceptance and signatures. However, by the time the agent arrives the sellers are completely inebriated. The agent has them...

Texas Promulgated Forms Questions and Answers Test Bank 2023 with complete solution Which of the following is TRUE for the statute of limitations for contracts for the sale of real estate and oral contracts for leases of less than one year? The statute of limitations is four years for the sale and two years for the lease. The voiding of a contract by a minor is an example of terminating a contract by operation of law. Which of the following would NOT be considered a competent party? A 30...