TX Promulgated Contract Forms Flashcard Questions (80 questions)

Front

The date a contract starts is known as the...?

Back

Effective date

Front

A valid and enforceable contract must include which of the following elements: Consideration, Mutual agreement, Competent parties?

Back

All of the above

Front

Additional pages of material that are added to and become part of a contract are referred to as a/an...? Options: RFP, Amendment, Bulletin

Back

Addendum

Front

A typical real estate sales contract between a buyer and seller is considered a/an...?

Back

Performance contract

Front

An executory contract is...?

Back

In-progress

Front

A change in a legal document made by adding, altering, or omitting a certain part or term is referred to as a/an...?

Back

Amendment

Front

A contract that has been fully performed is known as a/an...?

Back

Executed contract

Front

The real estate sales contract between John and Amy...?

Back

Must be in-writing

Front

Anything given or promised by a party to induce another to enter into a contract is referred to as...?

Back

Consideration

Front

A lease with a term of less than one year...?

Back

May be oral or in-writing