Executory contract - Study guides, Class notes & Summaries

Massachusetts Real Estate Exam 2 Questions with Correct Answers Brokers Authority to prepare documents - Answer-Fill in blanks...do not fill in Legal language Expressed vs. Implied Contracts - Answer-Expressed (sellers signing a marketing contract) Implied ( if you bring me a buyer I will pay you 3%) Another example; If you cash a rent check while tenant in sufferage you are implying that you have a lease Executory and Executed Contracts - Answer-Executory (something still remains to be ...

ASREB Test Questions and Answers 100% Verified A borrower is required to put 10% down for the purchase of a property. The 10% down would be considered... Answer-Equity A broker, acting as a property manager, would be considered what type of agent? Answer-General A contract has been signed, but title has not yet been passed. The contract is... AnswerExecutory A house cost $100,000. The buyer is making a down payment of 32,000 and getting a $68,000 loan. If there are 4 points, how much...

Business Law REG Exam Questions & Answers 2024/2025 Define Bilateral contract - ANSWERSA bilateral contract is a promise in exchange for a promise creating a contract. Define executory contract - ANSWERSAn executory contract is one not fully performed. What are four requirements for a *valid contract*? - ANSWERSoffer and acceptance, consideration (computer for $400), nothing to indicate either party lacks legal capacity, and in legal purpose. Define unilateral contract - ANSWERSan ...

Texas Promulgated Contracts-CHAMPIONS STUDY Questions with Complete Solutions Latest Updated 2024/2025 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 - Correct Answer 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 b...

contract -Correct Answer a legally enforceable promise or an exchange of promises Uniform Commercial Code (UCC) -Correct Answer -covers the sale of goods -goods are tangible, movable items of personal property -applies to individuals & firms -uniform state law -Article 2: applies to contracts -Section 207: "Battle of Forms" -> Deal still goes through bilateral contracts -Correct Answer -involve a promise for promise exchange ( mutual promises) -acceptance is before action ...

Civil Law correct answers Regulates the rights and duties between parties Agent correct answers A person who acts for someone else Bilateral Contract correct answers A promise made in exchange for another promise Common Law correct answers Judge-made law Law made when judges decide cases and then follow those decisions in later cases Predictability and flexibility are the most important goals Still predominates in contract law, agency law, and tort law Contract correct answers A l...

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

The state of the contract between the execution date and the closing. A) Fully executed contracted B) Executed contract C) Option contract D) Executory contract - ANSWER D) Executory contract This lease has a defined specific beginning and ending date. A) Estate at sufferance B) Estate at will C) Estate from period to period D) Estate for years - ANSWER D) Estate for years The TREC ONE-TO-FOUR RESIDENTIAL RESALE CONTRACT requires the seller to deliver__________ to the b...

Oklahoma Real Estate Broker Exam Ch 18-26 Questions and Answers Already Passed A Brick fence straddles the property line of two neighbors. The neighbors agree not to damage it in any way. This is an example of: A Party Wall. A court renders a judgement which authorizes a lien to be placed against the defendant's house, car and personal belongings. This is an example of A general judgement lien. Among junior liens, the order or priority is generally established accordint to the da...

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) Bilateral (d) Void - A