Texas Law of Contracts: Ch. 3 Quiz

Statute of Frauds

A State law requiring certain contracts to be in writing and signed before they will be enforceable at law is known as the...?

Executory contract

A contract in which something remains to be done by one or both of the parties is considered a/an...?

Executed contract

A contract that has been fully performed is considered a/an...?

All of the above

A valid contract must include which of the following...? - Consideration - Offer and acceptance - Legal purpose - All of the above

Bilateral contract

An independent contractor agreement is considered what type of contract...?

Open listing

Which of the following is an example of a unilateral contract...? - Exclusive right to sell agreement - Exclusive agency agreement - Net listing - Open listing

All of the above

Which of the following is considered a bilateral contract...? - Sales contract - Net listing agreement - Exclusive right to sell agreement - All of the above

Consideration

Anything given or promised by a party to include another to enter into a contract is called...?

Performance

If a contract requires a party to do something, it is referred to as...?

Forbearance

If a contract requires a party to not do something, it is referred to as...?