Quiz 9 - Legal Aspects of Real Estate Lesson 9 Cumulative...

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Legal Aspects of Real Estate Lesson 9 Cumulative Quiz 1. Which of the following is not always a requirement for a valid contract? A. Consideration B. Contractual capacity C. In writing D. Mutual consent C 2. A minor enters into a contract to purchase real property. This contract is: C. void 3. Which of the following would result in the formation of a valid contract? A. The offer expires on the termination date, then the offeree communicates acceptance B. The offer is revoked by the offeror, then the offeree communicates acceptance C. The offeree communicates acceptance, and then the offer is revoked by the offeror D. The offeree makes a counteroffer C 4. All of the following are necessary for a valid acceptance, except: A. the acceptance must be communicated to the offeror in the manner specified by the offeror B. the acceptance must be in writing C. the acceptance must not vary the terms of the offer D. the offer must be accepted by the offeree, not a third party B 5. A tenant finds another person to take over the remainder of her lease term. The new tenant will pay rent to the landlord, but the old tenant remains secondarily liable. This is a/an: B. assignment 6. Which of the following is an example of a novation? A. Art and Carlos tear up an existing contract, and replace it with a new contract with
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This note was uploaded on 01/29/2012 for the course REAL 12 taught by Professor Haynes during the Spring '11 term at West Valley.

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Quiz 9 - Legal Aspects of Real Estate Lesson 9 Cumulative...

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