| front |
back |
revisions |
lasted changed by |
history |
| Mary and Sally, both competent parties, agree that Sally will buy Mary's house. All terms and conditions have been agreed upon, and a written contract has been signed by both parties. This contract is MOST likely |
Valid |
0 |
gettarb Mon, 22 Nov 2010 04:00:46 GMT |
 |
| Agreement by the parties to the terms of the contract is also called a "meeting of the minds T/F? |
T |
0 |
gettarb Mon, 22 Nov 2010 04:00:46 GMT |
|
| A contract that seems to be valid on the surface but may be rejected by one or both of the parties is |
Voidable |
0 |
gettarb Mon, 22 Nov 2010 03:57:50 GMT |
|
| What kind of evidence may be allowed if the written contract is incomplete or ambiguous? |
Written or Oral |
0 |
gettarb Mon, 22 Nov 2010 03:57:50 GMT |
|
| A contract in which one party is persuaded to act because of a promise made by another party is a |
Unilateral Contract |
0 |
gettarb Mon, 22 Nov 2010 03:57:50 GMT |
|
| Impossibility of performance is a valid reason to extend a sales contract T/F? |
F |
0 |
gettarb Mon, 22 Nov 2010 03:57:50 GMT |
|
| MOST Texas real estate contracts provide that |
reasonable time is permitted for performance of contract rights and duties. |
0 |
gettarb Mon, 22 Nov 2010 03:50:07 GMT |
|
| If one of the parties defaults on a real estate contract, the nondefaulting party may |
Sue for specific purpose |
0 |
gettarb Mon, 22 Nov 2010 03:50:07 GMT |
|
| A contract in which the intentions of the parties are shown by their actions is a |
Implied contract |
0 |
gettarb Mon, 22 Nov 2010 03:50:07 GMT |
|
| The transfer of rights and/or duties under a contract is called |
Assignment |
0 |
gettarb Mon, 22 Nov 2010 03:50:07 GMT |
|
| Using force to obtain an agreement is |
Duress |
0 |
gettarb Mon, 22 Nov 2010 03:43:12 GMT |
|
| If you enter a contract to purchase a home from a 16-year-old boy who inherited the property and the boy signs the sales contract, the contract is |
Voidable |
0 |
gettarb Mon, 22 Nov 2010 03:43:12 GMT |
|
| Under the Texas Deceptive Trade Practices Act, the statute of limitations is |
two years from the date a buyer could reasonably have discovered the deceptive act |
0 |
gettarb Mon, 22 Nov 2010 03:43:12 GMT |
|
| When a contract is terminated because of complete performance, with all terms carried out, the contract is considered |
Executed |
0 |
gettarb Mon, 22 Nov 2010 03:43:12 GMT |
|
| If you enter a contract to purchase a home from a boy, age 16, and the boy signs the sales contract, the contract is |
Voidable |
0 |
gettarb Mon, 22 Nov 2010 03:39:47 GMT |
|
| Which is "anything of value given or promised as an inducement to contract"? |
Consideration |
0 |
gettarb Mon, 22 Nov 2010 03:39:47 GMT |
|
| In a contract performed by novation, a third party is substituted for one of the original parties T/F? |
F |
0 |
gettarb Mon, 22 Nov 2010 03:39:47 GMT |
|
| Contracts agreed to under undue influence are voidable at the option of the injured party T/F? |
T |
0 |
gettarb Mon, 22 Nov 2010 03:39:47 GMT |
|
| An express contract must be oral T/F? |
F |
0 |
gettarb Mon, 22 Nov 2010 00:46:18 GMT |
|
| If the seller defaults on a real estate contract and the buyer sues for specific performance and wins, the seller may be forced to sell the property to the buyer T/F? |
T |
0 |
gettarb Mon, 22 Nov 2010 00:46:18 GMT |
|
| The five basic requirements of every valid contract offer are: agreement in writing and signed, competent parties, consideration, offer and acceptance, and legality of object T/F? |
T |
0 |
gettarb Mon, 22 Nov 2010 00:46:18 GMT |
|
| If the parties entered into the contract not knowing that the contract's purpose was illegal, it will still be valid T/F? |
F |
0 |
gettarb Mon, 22 Nov 2010 00:44:38 GMT |
|
| When a contract does NOT specify a date or time frame for performance, the acts it requires must be performed within a reasonable time T/F? |
T |
0 |
gettarb Mon, 22 Nov 2010 00:44:38 GMT |
|
| Under Texas law, any action for the specific performance of a contract for the conveyance of real property must be commenced within six years from the date of the breach T/F? |
F |
0 |
gettarb Mon, 22 Nov 2010 00:44:38 GMT |
|
| A contract may be discharged through partial performance of the terms along with a written acceptance by the person for whom acts have NOT been done or to whom money has NOT been paid T/F? |
T |
0 |
gettarb Mon, 22 Nov 2010 00:44:38 GMT |
|
| f a law requires a record to be in writing, an electronic record will NOT satisfy the law T/F? |
F |
0 |
gettarb Mon, 22 Nov 2010 00:42:37 GMT |
|
| If a contract contains a personal obligation, it can be assigned to a third party T/F? |
F |
0 |
gettarb Mon, 22 Nov 2010 00:42:37 GMT |
|
| Offer and acceptance requires that a contract must be entered into as the free and voluntary act of each party T/F? |
T |
0 |
gettarb Mon, 22 Nov 2010 00:42:37 GMT |
|
| According to the Statute of Frauds, contracts for the sale of real estate must be in writing to be enforceable T/F? |
T |
0 |
gettarb Mon, 22 Nov 2010 00:42:37 GMT |
|
| An executory contract is a completed contract in which all parties have performed the contract provisions T/F? |
F |
0 |
gettarb Mon, 22 Nov 2010 00:41:00 GMT |
|
| In bilateral contracts, one party promises to do something T/F? |
F |
0 |
gettarb Mon, 22 Nov 2010 00:41:00 GMT |
|
| Contracts made under fraud, tricks, misrepresentation, or mutual mistake are, at the option of the injured party, |
Voidable |
0 |
gettarb Mon, 22 Nov 2010 00:41:00 GMT |
|
| Offer and acceptance requires that a contract must be entered into as the free and voluntary act of each party T/F? |
T |
0 |
gettarb Mon, 22 Nov 2010 00:41:00 GMT |
|
