QUESTION 45 Ben is promoted and goes to Spain for corporate officer training for two years. During the time he is away, he creates a written instrument with his wife whereby Ben, the principal, appoints his wife, the attorney in fact, as his agent. This document is referred to as: O a power of attorney O Letters of Guardianship O a counteroffer O Such an instrument is not used in Texas. QUESTION 46 Maria and Patrick allowed their son Mike to move into their vacation home and pay rent in the amount of $500 per month. Since Mike is family, Patrick and Maria do not have him sign a written lease, but they verbally agree that the term will be for one year. The tenancy created between Maria, Patrick and Mike concerning the vacation home is referred to as am): O percentage lease O tenancy from period to period O net lease O gross lease QUESTION 47 Dan proposes an offer to Lee to purchase Lee's real estate for $90,000. In the offer, Dan initialed each page and signed the last page. Upon receipt of the offer, Lee counteroffered by changing the sales price. He initialed next to the change, initialed the bottom of each page, and signed the last page. Dan receives the counteroffer and accepts it. According to the real estate sales contract form, when is the effective date of the contract completed? O when Dan sends the offer O when Lee sends the counteroffer O on the date Dan deposits the earnest money with the offer O on the date Dan accepts the counteroffer