Real Estate Quiz #6

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Author:
SassyStarfish
ID:
275698
Filename:
Real Estate Quiz #6
Updated:
2014-05-31 00:47:00
Tags:
California real estate test
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Description:
California real estate test
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The flashcards below were created by user SassyStarfish on FreezingBlue Flashcards. What would you like to do?


  1. An acceptance is...
    a consent (by an offeree) to an offer made (by an offeror) to enter into an d be bound by a contract.
  2. A bilateral contract is...
    a contract in which a promise give by one party is exchanged for a promise given by the other party.
  3. A commission is...
    an agent's compensation for performance of his or her duties as an agent; in real estate, it is usually a percent of the selling price of the property or, in the case of leases, rentals.
  4. A consideration is...
    anything of value given or promised, such as money, property, services, or a forbearance, to induce another to enter into a contract
  5. A contingency is...
    an event that may, but is not certain to, happen, the occurrence upon which the happening of another event is dependent.
  6. A counter offer is...
    a new offer by an offeree that acts as a rejection of an offer by an offeror.
  7. A deposit receipt is...
    a written document indicating that a good-faith deposit has been received as part of an offer to purchase real property; also called a purchase and sale agreement.
  8. Duress is...
    unlawful force or confinement used to compel a person to enter into a contract against his or her will.
  9. An emancipated minor is...
    a minor who, because of marriage, military service, or court order, is allowed to contract for the sale or purchase of real property.
  10. An equitable title is...
    the right to possess and enjoy a property while the property is being paid for.
  11. An exclusive agency listing is...
    a listing agreement that gives a broker the right to sell property and receive compensation (usually a commission) is the property is sold by anyone other than the owner of the property during the term of the listing.
  12. An exclusive authorization and right to sell listing is...
    a listing agreement that gives a broker the exclusive right to sell property and receive compensation (usually a commission) is the property is sold by anyone, including the owner of the property, during the term of the listing.
  13. An executed contract is...
    a contract that has been fully performed; may also refer to a contract that has been signed by all of the parties to the contract.
  14. An executory contract is...

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