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Chapter 6 - Principles I

Pioneer School of Real Estate
Horizontales
A/An __ contract is an unstated or unintentional agreement that may be deemed to exist when the actions of any of the parties suggest the existence of an agreement.
If a party to a contract is deemed to be __, the contract may be void or voidable, depending on the circumstances.
A/An __ breach occurs when one party notifies the other that they will not fulfill their contractual obligations in the future.
The __ money deposit, typically placed in escrow, serves as a form of financial protection for the seller if the buyer breaches the contract.
__ promulgates the forms for mandatory use by license holders.
There are __ TREC promulgated contract forms.
__ can be in the form of a promise for a promise.
In this case, a valid contract does exist but can be terminated by one or both of the parties if they so desire.
The person who is receiving the offer is the __.
The __ of a real estate contract occurs when one party fails to fulfill the obligations agreed upon in the contract.
In a/an __ contract, two parties each agree to exchange one thing for another.
__ assent is the coming to agreement to the terms of the contract and is completed by offer and acceptance.
Restores the parties as if the contract never took place.
Verticales
__ has additional forms that can be used exclusively by its members.
In most cases, the non-breaching party seeks __ damages as compensation for the breach.
"Child" or "__" means a person under 18 years of age who is not and has not been married.
The contract is a fully __ contract when all of the obligations and duties have been performed by all parties.
In the state of Texas, only __ are allowed to write law and that includes contracts.
Contracts that are not performed within a statutory period can be __.
A/An __ contract is one in which all of the terms of the agreement have been stated and agreed to by all parties.
__ performance is a legal remedy in which the court requires the breaching party to fulfill their contractual obligations.
In a/an __ contract, one party makes a promise and the other party benefits based on performance.
The person who makes the offer is called the __.
If the contract is for a/an __ purpose, the contract is automatically void and it is as though the contract never existed.
If an agreement is __, then it never was a contract.
__ are forms that are part of the original contract.
A/An __ contract is an enforceable contract that is in the process of being performed over a period of time.
A party to a contract who is under the influence of __ or alcohol, is generally treated as one who is mentally infirmed.