Texas Real Estate Chapter 1 Section 9 Prep Test

A listing contract is an example of a/an...?

Bilateral contract

To mingle or mix, for example, a client's funds in the broker's personal or general account is known as...?

Commingling

When a contract is fully performed, the contract is considered...?

Discharged

Until a purchase contract is closed upon, it is considered a/an...?

Executory contract

Which of the following real estate contracts must be in writing...?

All of the above -Sales contract -Lease contract for greater than 1 year -Purchase contract for a multi-family property

Which of the following contracts is NOT required to be in writing...?

Lease under 1 year

The sale of a property as an alternative to damages is an example of...?

Specific performance

Oral listing agreements between a seller and a broker are...?

Unenforceable

If a contract is not for a legal purpose, it is considered a/an...?

Void contract

If one of the parties in a real estate transaction are not considered competent, the contract between the parties is considered a/an...?

Voidable contract