A licensee who drafts a contract for the sale of her clients property is a

A licensee who drafts a contract for the sale of her

This preview shows page 5 - 7 out of 10 pages.

28.A licensee who drafts a contract for the sale of her client’s property is a.fulfilling the duties owed to her client according to TRELA. b.taking part in the unauthorized practice of law. c.allowed to do this if she has permission from the Broker-Lawyer Committee. d.taking part in the authorized practice of law. 29.A licensee representing a seller is asked by that seller, “What does paragraph 5 of this TREC promulgated contract mean to me?” What is the best answer by that agent? 30.Which of the following is a TREC promulgated form? 31.When should an offer be presented? 32.What is the make-up of the Broker-Lawyer Committee? a.Three brokers, three lawyers, and three members of the general public b.Six brokers and six lawyers c.Six brokers, six lawyers, and one member of the general public d.Six brokers, six lawyers, and three members of the general public 33. Which of the following committees is responsible for drafting and revising contract forms?
34.Which of the following addenda are promulgated by TREC? 35.How many promulgated contracts does TREC issue? 36.A seller wants to close using a contract for deed. Which of the following is MOST correct? a.The listing agent, with her broker’s permission, could use a TREC promulgated purchase agreement to handle this type of transaction. b.The listing agent must use the TREC promulgated Contract for Deed Contract. c.The listing agent would be in violation for attempting this type of transaction because contract for deeds are not legal by federal statute. d.The listing agent could continue helping the seller, but this type of contract must be drafted by an attorney.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture