CA_Principles_Chapter_06_Quiz

CA_Principles_Chapter_06_Quiz - Principles of California...

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Principles of California Real Estate Chapter 6 Quiz 1. What are the terms “adequate, good and sufficient, and valuable” related to? A. Consideration B. Just compensation C. Legal description D. Fiduciary duties 2. A contract for the purchase of a commercial property has mutual consent, consideration, and a legal objective. The contract, however, is conditioned on the buyer finding a tenant for the building within two months. This contract is: A. illusory B. enforceable C. unenforceable D. voidable 3. A minor who owned property approached a broker to assist in the sale of the property. The broker may not accept a listing from the minor because: A. a minor is incapable of appointing an agent B. the minor may be able to disaffirm a real estate contract later C. a broker is incapable of a fiduciary relationship with a minor D. it is illegal for a minor to enter into any sort of contract 4. A man acquired a parcel of real property before his arrest and conviction. While in prison, he wished to convey the property to his son. May he do so?
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This note was uploaded on 09/06/2011 for the course FIN 365 taught by Professor Staff during the Spring '11 term at S.F. State.

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CA_Principles_Chapter_06_Quiz - Principles of California...

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