Discharge of Contracts Quiz Attempt #2

A buyer has entered into a contract to buy a condominium unit. This new buyer has a right to cancel the contract within how many days?:

What does novation mean?

A minor signed a sales contract to purchase a home. Which of the following does not describe the contract

A sales contract for the sale of real estate that does not state the consideration and provides no basis on which consideration is considered

Liquidated damages are:

Purchasing binds whom?

A void contract is one that ______

Which of the following BEST describes a licensee’s authority to change/manipulate preprinted real estate contracts?

This legally binding document shows the agreed-upon terms two or more people negotioate in a real estate transaction is called a ____

Which of the following is a reason in which a contract would be able to be voided by the injured party?

When a tenant breaches a lease, the landlord has the right to ___________

All of the following are methods of termination except:

Any contract with an illegal objective is considered:

Which of the following does escrow NOT pay?

A purchase agreement would not likely be voidable if:

All of the following are essential elements of a contract except what?

Consider the following scenario, a seller accepts the buyer’s offer to purchase his property. Before closing, the seller changes his mind, and the buyer sues for specific performance. Which of the following is the buyer NOT seeking?

If neither party can sue the other to force performance then the contract is:

The release of liability from the original contract after it has been substituted by another is called:

A _________ is the term for when the liability of the original contract has been released after the substitution of the original contract.