CONTRACT 1
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
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| Lessee is to lease as: | show 🗑
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| show | sign his principal's name.
perform acts of a general power of attorney.
encumber his principal's property with a mortgage naming another as the beneficiary
but- The attorney-in-fact has no power to act for his principal until the power of attorney is
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| How may a minor be able to undertake without court approval? | show 🗑
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| In considering a bilateral contract, the offered promise bargains for receipt of a returned promise. If the return promise is given, it is considered: | show 🗑
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| show | tort
A violation of a legal right, or a civil wrong such as negligence, libel, nuisance, trespass, slander of title, or false imprisonment is a tort.
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| In the preparation of an exclusive listing contract, a licensee may be disciplined if he fails to include | show 🗑
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| show | Non-mutuality of obligations of the parties
Mutuality of obligations would mean that both parties are obligated to perform, which is the case with most contracts. An option does not have mutuality of obligations in that only the optionor is obligated to
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| show | voidable
Both husband and wife must sign any transfer or encumbrance of community property. CC Section 1102(a).
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| A lease that specifies that the lessee is to pay the real estate property taxes and the insurance cost, as well as the rent, is called: | show 🗑
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| show | valid
Married persons under the age of eighteen are considered emancipated minors.
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| show | obtain the written consent of the seller.
An option listing gives the broker the right to purchase the property that is listed. A broker with an option is acting as a principal as well as an agent. Prior to exercising the option, the seller must be infor
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| A listing contract has the statement, "The undersigned broker agrees to use diligence in procuring a buyer." This is used for what reason? | show 🗑
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| Property is acquired by transfer when, by an act of the parties or law, title is conveyed, or transferred. Real property may be transferred, or alienated by private grant, public grant, public dedication or operation of law (a court action). | show 🗑
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| show | a unilateral rescission.
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| What is legally required of a lease? | show 🗑
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Created by:
sysofadown3
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