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1. An example of a "subject to" contingency clause would be all of the following EXCEPT: (a) This offer is subject to O (b) This offer is subject to approval by O (c) This offer is subject to the buyer obtaining financing. O (d) This offer is subject to a property inspection. 2. Mrs. Benackerly leased a property from Mrs. Castenelly for three years. During the middle of the third year, Mrs. Benackerly entered into a contract with Mr. Dippydo that he would take her place in the lease, move into the property, and pay the rent for the remaining period of the lease. Though Mrs. Benackerly and Mr. Dippydo informed Mrs. Castenelly, they didn't bother to get her approval. This would be an example of: O (a) an illegal transaction between Mrs. Benackerly and Mr. Dippydo O (b) a simple, legal assignment of contract O(c) pur autre vie O (d) a complex process of contract law known as a novation of contract 3. When Mr. Vegas, the buyer, asked Mr. Atlantic, the seller, about the condition of the basement, Mr. Atlantic replied that it was in perfect condition, all the while knowing that the basement leaked during heavy rains. The courts would consider this an example of: O (a) puffing O (b) positive intentional fraud O (c) negative intentional fraud O (d) constructive fraud 4. Rose has a contract with Stanley that states her home will be sold to him for $500,000 on April 5. After the contract is signed, they discuss changing the closing date on the contract but do not write an addendum that stipulates such a change. If Stanley tries to invoke a new closing date, and Rose denies the request, she can use what rule? O (a) attachment O (b) lis pendens O (c) writ of execution O (d) parol evidence 5. If a buyer fails to complete the purchase of a property as agreed in a fully executed purchase agreement, he or she may have to forfeit the earnest money deposit because of this clause: O (a) constructive O (b) liquidated damages O (c) statute of frauds O (d) contingency 6. The Statute of Frauds requires certain contracts to be in writing including all of the following EXCEPT: O(a) lease agreements that extend beyond one year O (b) any contract for the purchase or sale of real estate O (c) any contract that takes longer than one year to perform O (d) lease agreements of less than a year 7. means to nullify or replace. Signing of the closing documents nullifies the Real Estate Purchase Contract except for warranties that extend beyond the closing date. O (a) Abrogation O (b) Specific performance O (c) Fraud O (d) Attachment 8. Remedies for a breach of contract can be all of the following EXCEPT: O (a) puffing O (b) suit for damages O (c) rescission O (d) mediation 9. is a nonbinding process of meeting with a disinterested third party to try to resolve a dispute between the two principals in the transaction or contract. O(a) Negative or passive intentional fraud O (b) Statute of Frauds O (c) Rescission (d) Mediation 10. The decision handed down by a court is referred to as a(n): O(a) attachment O (b) judgment O (c) lis pendens O (d) writ 11. In Utah, if a contract is in violation of the Statute of Frauds, it is automatically deemed O (a) void O (b) voidable O (c) unenforceable O (d) lis pendens 12. What is an annulment of the existing contract, sometimes expressed as a contract to end a contract? O (a) liquidation of damages O (b) mediation O (c) suit for damages O (d) rescission 13. Blanche and Rose are parties to a contract for Rose to purchase Blanche's home on February 2. On January 30, a tornado hits Blanche's town, and her home is destroyed. The contract can no longer be performed and is terminated due to O (a) negligence O (b) novation O (c) impossibility of performance O (d) assignment 14. What guideline denotes that every deadline in a contract is firm and that it's necessary to be smart about your time management? O (a) abrogation O (b) implied covenant of good faith and fair dealing O (c) time is of the essence clause O (d) as-is clause 15. Sophia is a party to the contract to sell her home to Miles, and Miles breaches the contract. Sophia decides to invoke a remedy to address the breach of contract. If Miles has to forfeit his earnest money, what type of remedy would that be? O(a) rescission O (b) mediation O (c) suit for specific performance O (d) liquidated damages 16. is/are the substitution of a new party or a new obligation in a contract. This process requires the agreement of all original parties in the contract, but once it has been agreed to, the original obligee is released from liability. O (a) Damages O (b) Novation. O (c) Rescission O (d) Undue influence 17. If someone wishes to terminate a contract, the following options are available EXCEPT: O(a) anticipatory repudiation O (b) assignment O (c) lis pendens O (d) novation 18. is a legal remedy requiring a party to perform as agreed in the contract. O (a) Assignment of contract O (b) Positive intentional fraud O (c) Specific performance O (d) Time is of the essence 19. In anticipation of a particular default, clauses are sometimes written into a contract to specify the default and its penalty of O (a) a contingency clause O (b) constructive fraud O (c) the parol evidence rule O (d) liquidated damages 20. The primary purpose of the Statute of Frauds is to ________. O (a) promote the use of legal advocates O (b) promote writs of execution O (c) prevent fraud O (d) prevent judgment 1. An example of a "subject to" contingency clause would be all of the following EXCEPT: (a) This offer is subject to O (b) This offer is subject to approval by O (c) This offer is subject to the buyer obtaining financing. O (d) This offer is subject to a property inspection. 2. Mrs. Benackerly leased a property from Mrs. Castenelly for three years. During the middle of the third year, Mrs. Benackerly entered into a contract with Mr. Dippydo that he would take her place in the lease, move into the property, and pay the rent for the remaining period of the lease. Though Mrs. Benackerly and Mr. Dippydo informed Mrs. Castenelly, they didn't bother to get her approval. This would be an example of: O (a) an illegal transaction between Mrs. Benackerly and Mr. Dippydo O (b) a simple, legal assignment of contract O(c) pur autre vie O (d) a complex process of contract law known as a novation of contract 3. When Mr. Vegas, the buyer, asked Mr. Atlantic, the seller, about the condition of the basement, Mr. Atlantic replied that it was in perfect condition, all the while knowing that the basement leaked during heavy rains. The courts would consider this an example of: O (a) puffing O (b) positive intentional fraud O (c) negative intentional fraud O (d) constructive fraud 4. Rose has a contract with Stanley that states her home will be sold to him for $500,000 on April 5. After the contract is signed, they discuss changing the closing date on the contract but do not write an addendum that stipulates such a change. If Stanley tries to invoke a new closing date, and Rose denies the request, she can use what rule? O (a) attachment O (b) lis pendens O (c) writ of execution O (d) parol evidence 5. If a buyer fails to complete the purchase of a property as agreed in a fully executed purchase agreement, he or she may have to forfeit the earnest money deposit because of this clause: O (a) constructive O (b) liquidated damages O (c) statute of frauds O (d) contingency 6. The Statute of Frauds requires certain contracts to be in writing including all of the following EXCEPT: O(a) lease agreements that extend beyond one year O (b) any contract for the purchase or sale of real estate O (c) any contract that takes longer than one year to perform O (d) lease agreements of less than a year 7. means to nullify or replace. Signing of the closing documents nullifies the Real Estate Purchase Contract except for warranties that extend beyond the closing date. O (a) Abrogation O (b) Specific performance O (c) Fraud O (d) Attachment 8. Remedies for a breach of contract can be all of the following EXCEPT: O (a) puffing O (b) suit for damages O (c) rescission O (d) mediation 9. is a nonbinding process of meeting with a disinterested third party to try to resolve a dispute between the two principals in the transaction or contract. O(a) Negative or passive intentional fraud O (b) Statute of Frauds O (c) Rescission (d) Mediation 10. The decision handed down by a court is referred to as a(n): O(a) attachment O (b) judgment O (c) lis pendens O (d) writ 11. In Utah, if a contract is in violation of the Statute of Frauds, it is automatically deemed O (a) void O (b) voidable O (c) unenforceable O (d) lis pendens 12. What is an annulment of the existing contract, sometimes expressed as a contract to end a contract? O (a) liquidation of damages O (b) mediation O (c) suit for damages O (d) rescission 13. Blanche and Rose are parties to a contract for Rose to purchase Blanche's home on February 2. On January 30, a tornado hits Blanche's town, and her home is destroyed. The contract can no longer be performed and is terminated due to O (a) negligence O (b) novation O (c) impossibility of performance O (d) assignment 14. What guideline denotes that every deadline in a contract is firm and that it's necessary to be smart about your time management? O (a) abrogation O (b) implied covenant of good faith and fair dealing O (c) time is of the essence clause O (d) as-is clause 15. Sophia is a party to the contract to sell her home to Miles, and Miles breaches the contract. Sophia decides to invoke a remedy to address the breach of contract. If Miles has to forfeit his earnest money, what type of remedy would that be? O(a) rescission O (b) mediation O (c) suit for specific performance O (d) liquidated damages 16. is/are the substitution of a new party or a new obligation in a contract. This process requires the agreement of all original parties in the contract, but once it has been agreed to, the original obligee is released from liability. O (a) Damages O (b) Novation. O (c) Rescission O (d) Undue influence 17. If someone wishes to terminate a contract, the following options are available EXCEPT: O(a) anticipatory repudiation O (b) assignment O (c) lis pendens O (d) novation 18. is a legal remedy requiring a party to perform as agreed in the contract. O (a) Assignment of contract O (b) Positive intentional fraud O (c) Specific performance O (d) Time is of the essence 19. In anticipation of a particular default, clauses are sometimes written into a contract to specify the default and its penalty of O (a) a contingency clause O (b) constructive fraud O (c) the parol evidence rule O (d) liquidated damages 20. The primary purpose of the Statute of Frauds is to ________. O (a) promote the use of legal advocates O (b) promote writs of execution O (c) prevent fraud O (d) prevent judgment