The statute of limitations for a written contract for

This preview shows page 2 - 5 out of 6 pages.

Question 9The statute of limitations for a written contract for the sale of real estate in Texas is four years. six years. not defined. the same as it is for an oral contract for a lease of a year or less.
Question 10In Texas, the statute of limitations for an oral contract for a lease of less than one year is
Question 11 A contract must meet certain minimum requirements to be considered legally valid. All of the following are essential elements of a valid contract EXCEPT
Question 12A buyer and a seller enter into a contract using the One to Four Family Residential Contract, which is one of TREC’s six promulgated contracts. The effective date of the contract is February 4, and the seller has 4 days to fulfill a duty under the contract. By when must the seller complete the duty?
Question 13If parties to a real estate contract in Texas are held to very strict deadlines for performance, the contract likely includes the phrase “reasonable time.”“time is of the essence.”“as soon as possible.”“with good faith.”
Question 14A contract is classified as bilateral if

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture