1. If a judge would be willing to enforce a contract upon both parties, the contract must be:

valid

void

voidable

executed

2.

The process that finalizes all documents, transfers funds and formally transfers the ownership from the seller to the buyer is:

all of these answers

closing

settlement

escrow arrangement

3.If a contract expires before both parties sign it, the contract must be:

void

voidable

valid

executor

4.A purchase contract indicates that the buyer will to pay the seller $190,000 to purchase the sellers home. Which of the following essential elements does this represent?

consideration

acceptance

competent parties

proper objective

5.A non-performing party to a contract is forced to pay the other party $1000. This $1000 is listed in the contract as a remedy. Which of the following remedies does this represent?

liquidated damages

monetary damages

specific performance

general performance

6.A judge orders a non-performing party to a contract to pay the other party $20,000. This amount is not found anywhere in the contract. Which of the following remedies does this represent?

monetary damages

specific performance

general performance

liquidated damages

7.All aspects of the contract have been completed by both parties. This contract must be:

executed

voidable

valid

void

8.A real estate agent doesnt like to work with immigrants because the agent is not good with languages. As such the agent does not give a full effortfor immigrants assigned to him, hoping they wont be assigned to him in the future. Which Fair Housing practice does this violate?

do not deny equal professional services

do not volunteer ethnic information

do not engage in blockbusting

it does not violate any Fair Housing practice