NEW
Font size
WorksheetsLaw of Contracts 1-5
Total questions: 13
Worksheet time: 7mins
Which type of co-ownership for married couples dictates that each spouse has half ownership of any property obtained during the marriage, and cannot be sold without the signatures of both spouses?
community property
in severalty
tenancy in common
joint tenancy
Mary is leasing an apartment. She just purchased a ceiling fan for her apartment. While the ceiling fan is still in the box, the ceiling fan is:
personal property
land
easement
real estate
Which of the following laws affecting real estate prohibits discrimination in housing based upon race, color, religion, or national origin?
the Fair Housing Act
the Deceptive Trade Practices Act
the Texas Real Estate License Act
the Uniform Commercial Code
TREC approves and promulgates many forms for license holders' use. These include:
sales contracts and addenda
property management agreements
contracts, property management agreements, and listing agreements
listing agreements and leases
What is the primary purpose of the Broker-Lawyer Committee?
to create, edit, and recommend contract forms to TREC
to create and codify real estate rules for TREC
A seller's property has flooded three times in the past year. When he sells it, he tells his agent but does not disclose the flooding to the buyer. The buyer asks if the creek nearby has ever flooded, and the agent said not that he was aware of. What Act could the agent be guilty of violating?
DTPA
RESPA
TREC
ECOA
A broker is helping a government agency locate a building they can buy for an office. The agency has its own form they want the agent to use when they make their offer. Can the agent do that legally?
Yes, a government agency can require their own form to be used.
No, it would be a violation of TRELA.
No, it is a violation of the Rules of the Commission
No, they must use the promulgated form.
Which of the following is NOT an essential element of a valid contract?
EARNEST MONEY
CONSIDERATION
LAWFUL OBJECTIVE
LEGALLY COMPETENT PARTIES
A contract is signed by a minor. The contract is:
voidable
void
unenforceable
valid
When the terms of a contract have not been completely executed or performed, it is considered to be what kind of contract?
executory
bilateral
unilateral
executed
The Environmental Protection Agency requires sellers of houses built before 1978 to furnish buyers with a:
Lead-Based Paint Disclosure Form
Mold Disclosure Form
Radon Discovery Form
Emmy owns her house. She has full ownership rights to her property, could sell it whenever she wants, and can pass the property on to her heirs. What kind of estate does Emmy have?
fee simple absolute estate
fee simple determinable estate
leasehold estate
Lisa shares a driveway with her neighbor. The driveway is on Lisa’s property, but Lisa allows her neighbor to use the driveway. What is this an example of?
an easement
an encroachment
