Real Estate Principals lesson 7
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | an agreement to do or not to do a certain thing
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| show | one that is binding an enforceable in the court of law, and has the four elements
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| voidable contract | show 🗑
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| void contract | show 🗑
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| executory contract | show 🗑
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| excuted contract | show 🗑
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| bilateral contract | show 🗑
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| show | a promise for a act
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| illegal contract | show 🗑
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| show | oral
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| the acceptance in a mutual contract | show 🗑
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| What is the last step in the 3 step process for mutual consent | show 🗑
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| fraud | show 🗑
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| Actual fraud | show 🗑
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| Constructive fraud | show 🗑
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| show | voidable
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| show | voidable
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| show | voidable
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| Consideration | show 🗑
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| good consideration | show 🗑
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| show | anything of value
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| capable parties | show 🗑
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| show | person under the age of 18
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| lawful object | show 🗑
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| show | written
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| show | oral is considered over written do to incomplete or understood written
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| show | take priority over pre-printed parts
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| show | a unilateral act which relinquishes a right in a contract
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| privity | show 🗑
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| show | no, it can not be given to another broker
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| novation | show 🗑
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| show | an offer of money or performance in connection with a contract
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| can a broker bring a suit for breach of contract | show 🗑
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| show | clause that state the consequence of breaking a contract
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| unilaterally rescind? | show 🗑
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| when is a contract have to be in writing, in terms of time? | show 🗑
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| show | an agreement between brokers to share a commission
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| show | V-two years
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| what is the statute of limitations on an encroachment or inverse condemnation? | show 🗑
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| show | W-4 years
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| what is the statute of limitation for a deed? | show 🗑
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| show | integrity,honesty, loyalty
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| law of agency | show 🗑
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| can an agent tell a buyer anything (the seller would take anything) just to get a sale? | show 🗑
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| show | voluntary offer
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| actual athority | show 🗑
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| show | bars a principal from denying an agency (can't let someone start something and then only deny it when they screw up)
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| if the property sells what happens to the agency? | show 🗑
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| fiduciary obligation | show 🗑
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| what should happen to all written offers? | show 🗑
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| show | other buyers
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| is the oral promise of commission to a broker enforceable? | show 🗑
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| how does the broker officially earn commission? | show 🗑
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| hold harmless clause | show 🗑
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| silence | show 🗑
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| show | doesn't eliminate the duty to disclose material facts
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| even though a broker does not hold a fiduciary relationship with a customer/prospect? | show 🗑
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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