Promulgated Contract Form Practice ExamWith 100% Correct Answers 2023If a buyer decides to terminate a contract, the seller must agree to the termination.A) TrueB) False-Correct Answer-B) FalseWhich of the following, with written, consent, may act as an Intermediary?A) The Broker representing the seller and buyerB) The Broker cooperating with the listing brokerC) The salesman working with the seller andbuyerD) The salesman sponsored by a broker representing the seller-Correct Answer-A) TheBroker representing the seller and buyerAn agent would use the same contract for new construction no matter if it was completed orincomplete.A) TrueB) False-Correct Answer-FALSERegarding mediation-the Buyer and Seller are obligated under the terms of the Residentialcontract to abide by the ruling of the mediator.A) TrueB) False-Correct Answer-B) FalseA bilateral contract is:A) A promise in exchange for a promiseB) A promise made only by the agentC) A promise made only by the sellerD) No promise-Correct Answer-A) A promise in exchange for a promiseThe option paragraph of the contract creates an executed contract.A) TrueB) False-Correct Answer-B) FalseA unilateral contract only binds one party to perform.A) TrueB) False-Correct Answer-A) TrueIt is required by law that a seller disclosure any information they have regarding their property.They may use any form or notice that they wish.A) TruePreview Mode
This document has 9 pages. Sign in to access the full document!