Real estate contracts - Study guides, Class notes & Summaries

Texas Promulgated Contracts-CHAMPIONS Exam, Answered-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) Bilatera...

1-1 A real estate contract is important because it: - Answer identifies the parties and the property provides a written record of the transaction sets forth the rights and obligations of the parties 1-2 A licensee does not have to use a promulgated contract form if a transaction involves a contracts form prepared by whom? - Answer the property owner or an attorney for a contract required by the property owner

Unit 12: Real Estate Contracts Questions with Correct Answers

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...

Law of Contracts - Champions School of Real Estate Correctly Solved 2024 TERLA - Answer -- Texas Real Estate License Act - Created in 1939 TREC - Answer -- Texas Real Estate Commission - Created in 1949 to administer/enforce TERLA Real Estate Center - Answer -- Located at Texas A&M University - Created in 1970 TREC-Promulgated Forms/Leases (Residential): - Answer -- One-to-Four Family Residential Contract (Resale) - New Home Contract (Completed Construction) - Residential Condo Contra...

Champion School of Real Estate-Law of Contracts Exam with Complete Solutions Texas Real Estate Commission - ANSWER TREC-created by the Legislature in 1949. 9 member commission whose primary purpose is to carry out the provision of the License Act Real Estate Recovery Trust Account - ANSWER administered by TREC. the purpose of the account is to protect aggrieved individuals who suffer monetary loss due to illegal acts of license holders unlawful practice of law - ANSWER license holder is...

PSI Exam Questions and Answers 100% Correct| Latest 2024 what would prevent a seller from providing marketable title Mechanics lien the seller has required that the buyer must use his title insurance company and that brokers reduce their portion of the real estate commission, increasing the sellers net proceeds This is illegeal according to respa If a license mentions MLS when advertising, the advertisement must include the name of the MLS According to the New Jersey Real estate Licen...

Complete Solutions Manual for Contemporary Canadian Business Law, 12th Edition by John A. Willes, John H. Willes ; ISBN13: 9781259654893. (Full Chapters included Chapter 1 to 35).... Chapter 1. The Law and the Legal System. Chapter 2. The Judicial System and Alternative Dispute Resolution. Chapter 3. Business Regulation. Chapter 4. Intentional Torts. Chapter 5. Negligence and Unintentional Torts. Chapter 6. Special Tort Liabilities of Business Professionals. Chapter 7. An Introduction to ...

RECA Fundamentals Exam Questions and Answers Already Passed Which of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) Which of the following will occur to the supply of a good when ther...

FL Exam sec 11 - Real Estate Contracts 12% Questions and Answers 100% Pass Contracts (in general) - Correct Answer ️️ -agreement between two or more parties to do or not to do certain things -valid -contains all valid essentials -void - lacks one essential -voidable - maybe valid or void by one of the parties -enforceable - courts will enforce -unenforceable - courts cannot enforce Authority of real estate licensees to prepare contracts - Correct Answer ️️ -Licensees may not dr...