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LAW OF CONTRACTS - CHAMPIONS SCHOOL OF REAL ESTATE PACKAGE DEAL QUESTIONS AND ANSWERS WITH VERIFIED SOLUTIONS UPDATED 2024/25
LAW OF CONTRACTS - CHAMPIONS SCHOOL OF REAL ESTATE PACKAGE DEAL QUESTIONS AND ANSWERS WITH VERIFIED SOLUTIONS UPDATED 2024/25
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- • 20 items •
- LAW OF CONTRACTS CHAMPIONS TEST QUESTIONS AND ANSWERS WITH SOLUTIONS 2025 • Exam (elaborations)
- LAW OF CONTRACT FINAL EXAM QUESTIONS AND ANSWERS WITH SOLUTIONS 2025 • Exam (elaborations)
- LAW OF CONTRACTS PRACTICE EXAM CHAMPIONS 2025 QUESTIONS AND ANSWERS WITH SOLUTIONS • Exam (elaborations)
- LAW OF AGENCY - CHAMPIONS SCHOOL OF REAL ESTATE QUESTIONS AND ANSWERS WITH SOLUTIONS 2025 • Exam (elaborations)
- TEXAS PROMULGATED CONTRACTS-CHAMPIONS STUDY QUESTIONS AND ANSWERS WITH SOLUTIONS 2025 • Exam (elaborations)
- And more ….
LAW OF CONTRACTS - CHAMPIONS SCHOOL OF REAL ESTATE PACKAGE DEAL QUESTIONS AND ANSWERS WITH VERIFIED SOLUTIONS UPDATED 2024/25
LAW OF CONTRACTS- MODULE 10 QUESTIONS AND ANSWERS WITH SOLUTIONS 2025
Chain of Title - ANSWER The succession of conveyances, from some accepted starting point, whereby the present holder of real property derives title. Abstract of Title - ANSWER The condensed history of a title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property and a certification by the abstractor that the history is complete and accurate. Title Commitment - ANSWER Statement of the condi...
- Exam (elaborations)
- • 12 pages •
Chain of Title - ANSWER The succession of conveyances, from some accepted starting point, whereby the present holder of real property derives title. Abstract of Title - ANSWER The condensed history of a title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property and a certification by the abstractor that the history is complete and accurate. Title Commitment - ANSWER Statement of the condi...
CHAMPION LAW OF CONTRACT FINAL STUDY HELP QUESTIONS AND ANSWERS WITH SOLUTIONS 2025
When Myra told Kristina that the roofing contractor only uses "top-of-the-line material" and that the roof should last a very long time, she was most likely guilty of: - ANSWER b. Misrepresentation What conditions are present in this situation that give Kristina the right to file a lawsuitagainst Myra and Dirt Cheap Realty? - ANSWER d. The misrepresentation was a key element in Kristina's decision to purchase theproperty and the buyer was harmed by the purchase If a lawsuit is fil...
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- Exam (elaborations)
- • 6 pages •
When Myra told Kristina that the roofing contractor only uses "top-of-the-line material" and that the roof should last a very long time, she was most likely guilty of: - ANSWER b. Misrepresentation What conditions are present in this situation that give Kristina the right to file a lawsuitagainst Myra and Dirt Cheap Realty? - ANSWER d. The misrepresentation was a key element in Kristina's decision to purchase theproperty and the buyer was harmed by the purchase If a lawsuit is fil...
CHAMPIONS PRINCIPLES OF REAL ESTATE 2 QUESTIONS AND ANSWERS WITH SOLUTIONS 2025
appraisal - ANSWER value of a property maybe affected by social, economic, govt and environmental influences Loan-to-Value Ratio (LTV) - ANSWER The percentage of value or sales price that a lender is willing to finance. limited appraisal report - ANSWER exterior only/drive by inspection. deemed as low risk loan highest and best use of property - ANSWER legal use that gives the greatest return Principal of Contribution - ANSWER cost does not equal value Residential Mortgage Loan Or...
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- Exam (elaborations)
- • 8 pages •
appraisal - ANSWER value of a property maybe affected by social, economic, govt and environmental influences Loan-to-Value Ratio (LTV) - ANSWER The percentage of value or sales price that a lender is willing to finance. limited appraisal report - ANSWER exterior only/drive by inspection. deemed as low risk loan highest and best use of property - ANSWER legal use that gives the greatest return Principal of Contribution - ANSWER cost does not equal value Residential Mortgage Loan Or...
CHAMPIONS PROMULGATED CONTRACT FORMS 2025 BOOK REVIEW QUESTIONS AND ANSWERS WITH SOLUTIONS
The two most common disclosure forms include - ANSWER Texas Real Estate Commission, and Texas Association of REALTORS® A conventional loan is best described as any loan - ANSWER that is not a government loan. A "meeting of the minds" - ANSWER Mutual consent A contract in which only one party is obligated to perform - ANSWER Unilateral contract Something given in exchange for a promise - ANSWER Consideration An agreement between a buyer and seller giving the buyer the rig...
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- Exam (elaborations)
- • 27 pages •
The two most common disclosure forms include - ANSWER Texas Real Estate Commission, and Texas Association of REALTORS® A conventional loan is best described as any loan - ANSWER that is not a government loan. A "meeting of the minds" - ANSWER Mutual consent A contract in which only one party is obligated to perform - ANSWER Unilateral contract Something given in exchange for a promise - ANSWER Consideration An agreement between a buyer and seller giving the buyer the rig...
PROMULGATED CONTRACT FORMS (CHAMPIONS) QUESTIONS AND ANSWERS WITH SOLUTIONS 2025
mutual consent - ANSWER a "meeting of the minds" unilateral contract - ANSWER a contract in which only one party is obligated to perform unenforceable contract - ANSWER a contract that cannot be enforced due to some flaw or other issue in the contract elements of a valid and enforceable contract - ANSWER COLIC (competent parties, offer and acceptance, legal purpose, in writing, consideration) amendment - ANSWER changes to the contract; common ones include changes to the closing...
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- Exam (elaborations)
- • 5 pages •
mutual consent - ANSWER a "meeting of the minds" unilateral contract - ANSWER a contract in which only one party is obligated to perform unenforceable contract - ANSWER a contract that cannot be enforced due to some flaw or other issue in the contract elements of a valid and enforceable contract - ANSWER COLIC (competent parties, offer and acceptance, legal purpose, in writing, consideration) amendment - ANSWER changes to the contract; common ones include changes to the closing...
AYPO REAL ESTATE LAW OF CONTRACTS QUESTIONS AND ANSWERS WITH SOLUTIONS 2025
An advantage to buyers in a lease-purchase option is which of the following? - ANSWER It can be easier for a difficult to qualify buyer to purchase a home with a lower down payments. Eminent domain in Texas MAY NOT be used for which of these purposes? - ANSWER Private party uses. Graduated and index leases are what types of leases? - ANSWER Variable. A "mirror" will is a : - ANSWER Reciprocal will. Under a land sales contract which of the following statements is accurate? (Best...
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- Exam (elaborations)
- • 11 pages •
An advantage to buyers in a lease-purchase option is which of the following? - ANSWER It can be easier for a difficult to qualify buyer to purchase a home with a lower down payments. Eminent domain in Texas MAY NOT be used for which of these purposes? - ANSWER Private party uses. Graduated and index leases are what types of leases? - ANSWER Variable. A "mirror" will is a : - ANSWER Reciprocal will. Under a land sales contract which of the following statements is accurate? (Best...
LAW OF CONTRACTS EXAM MULTIPLE CHOICE QUESTIONS AND ANSWERS WITH SOLUTIONS 2025
Which of the following is a requirement for a Texas real estate sales agent license? a. College degree b. 30 hours of Real Estate Principles Only c. Showing competency by passing the licensing exam d. Must be Texan by birth - ANSWER C. Showing competency by passing the licensing exam An active sales agent license may only be issued under _____. a. Court order b. The sponsorship of a licensed broker c. The supervision of a fellow sales agent d. The Deceptive Trade Practices Act - ...
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- Exam (elaborations)
- • 8 pages •
Which of the following is a requirement for a Texas real estate sales agent license? a. College degree b. 30 hours of Real Estate Principles Only c. Showing competency by passing the licensing exam d. Must be Texan by birth - ANSWER C. Showing competency by passing the licensing exam An active sales agent license may only be issued under _____. a. Court order b. The sponsorship of a licensed broker c. The supervision of a fellow sales agent d. The Deceptive Trade Practices Act - ...
LEGAL UPDATE I CHAMPION SCHOOL OF REAL ESTATE QUESTIONS AND ANSWERS WITH SOLUTIONS 2025
How many hours of CE concerning real estate contracts must a license holder take to renew his/her license? - ANSWER 3 The amendment to the Consumer Protection Notice adds a statement to alert consumers that ______ are licensed by TREC and must maintain E&O insurance. - ANSWER Real Estate Inspectors According to paragraph 2C of the contract, "controls" include: - ANSWER Software and applications used to access and control improvements or accessories Meghan's seller-client is lea...
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- Exam (elaborations)
- • 3 pages •
How many hours of CE concerning real estate contracts must a license holder take to renew his/her license? - ANSWER 3 The amendment to the Consumer Protection Notice adds a statement to alert consumers that ______ are licensed by TREC and must maintain E&O insurance. - ANSWER Real Estate Inspectors According to paragraph 2C of the contract, "controls" include: - ANSWER Software and applications used to access and control improvements or accessories Meghan's seller-client is lea...
LAW OF CONTRACTS CHAMPIONS STUDY GUIDE QUESTIONS AND ANSWERS WITH SOLUTIONS 2025
in the even of default by the buyer: the seller can choose to accept the buyers earnest money as ________ _________, releasing all parties from any further obligation under the contract. these are damages that are established in the contract - ANSWER liquidated damages in the even of default by the buyer: the injured party may "seek such other relief as may be provided by law." this would be an award of ________ _________ by the court. because ____________ __________ are awarded b...
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- Exam (elaborations)
- • 24 pages •
in the even of default by the buyer: the seller can choose to accept the buyers earnest money as ________ _________, releasing all parties from any further obligation under the contract. these are damages that are established in the contract - ANSWER liquidated damages in the even of default by the buyer: the injured party may "seek such other relief as may be provided by law." this would be an award of ________ _________ by the court. because ____________ __________ are awarded b...
AIC 301 - FINAL EXAM PREP QUESTIONS AND ANSWERS WITH SOLUTIONS 2024
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