REE 4433 Samenvattingen, Aantekeningen en Examens

1. A bilateral contract is one in which a. only one of the parties is obligated to act. b. the promise of one party is given in exchange for the promise of the other party. c. something is to be done by one party only. d. a restriction is placed in the contract by one party to limit the performance by the other. Correct Answer-b. the promise of one party is given in exchange for the promise of the other party. 2. Every real estate contract must have a. a grantor and a grantee. b. acknow...

Sam promises to buy Amy a steak if she agrees to meet him for dinner after work. Amy agrees. Sam shows up, but Amy does not. Correct Answer-Amy does not need to show up, this is a social arrangements which normally do not create the expectation/reliance that commercial agreements do Barb wanted to purchase 3 lots in San Rafael and build homes on those lots. She contacted Vera, a RE broker. Vera agreed to represent Barb regarding the purchase, in return Barb agreed to build a speculative home ...

The Maple Ridge Construction Company and Kasten entered in to an agreement for the purchase of lots in a subdivision owned by Kasten. Maple Ridge encountered problems obtaining financing and requested postponement of the settlement date. Kasten agreed to an extension of four months. Maple Ridge continued to try to obtain a suitable financing arrangement without success. Repeated requests for additional extensions were tuned down by Kasten. The settlement date passed with neither party preforming...

(CH10) A person who is adjudicated insane Correct Answer-has no capacity to enter into a contract. (CH10) Harry offers in writing to sell Lynn Blackacre. Lynn accepts, thinking that the offer refers to Greenacre. In fact, Harry made the offer thinking that it referred to Greenacre. Either party may rescind the contract because Correct Answer-both parties had a mistaken belief about a material matter in the contract. (CH10) Pamela contracts with Bronwyn to build a house. Pamela specifies in...

John assigned his right to receive a deed from Trudy to Hannah. Contracts assigning deeds are unenforceable. John is relieved from making payment to Trudy. Hannah will be entitled to the deed. John is an assignee. Correct Answer-Hannah will be entitled to the deed. Harry offers in writing to sell Lynn Blackacre. Lynn accepts, thinking that the offer refers to Greenacre. In fact, Harry made the offer thinking that it referred to Greenacre. Either party may rescind the contract because ...

REE 4433 Exam 3 (CH19) Which of the following is NOT part of the seller's preparation for closing? - Answer-Obtaining financing (CH19) The attorney's role in the closing - Answer-consists largely of preparation for the closing by examination of the documents (CH19) The listing broker's role in the preparation of the closing is normally one of - Answer-facilitating the closing by communicating with the parties (CH19) Which of the following is NOT part of the buyer's preparation fo...

REE 4433 EXAM 2 John assigned his right to receive a deed from Trudy to Hannah. Contracts assigning deeds are unenforceable. John is relieved from making payment to Trudy. Hannah will be entitled to the deed. John is an assignee. - Answer-Hannah will be entitled to the deed. Harry offers in writing to sell Lynn Blackacre. Lynn accepts, thinking that the offer refers to Greenacre. In fact, Harry made the offer thinking that it referred to Greenacre. Either party may rescind the cont...

REE 4433 Exam 2 (Bailey) with case studies version 2 Questions with Complete Solutions

REE 4433 EXAM 2 Bailey FSU (Case Studies/Test Bank) Questions with complete Solutions

REE 4433 Exam 2 Questions with Complete Solutions