Question

All of the following are elements for contracts. Which one is essential only for contracts on...

All of the following are elements for contracts. Which one is essential only for contracts on real estate?

Question 4 options:

1)

 competent parties

2)

 offer and acceptance

3)

 written form

4)

consideration

The management agreement gives the manager authority to

Question 1 options:

1)

 advertise the property for rent.

2)

 hire, discharge and pay employees.

3)

 collect rent.

4)

 all of the above.
Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Question 1 : The correct answer is Option 2

All of the options are the essential elements of the contract, but offer and acceptance is an essential one, A offer means an advertisement or call that the property is on sale and the bids are being accepted for the property, and when the best bid is selected, it is called as an acceptance.

Question 2: The correct answer is Option 4

The management agreement act as a fiduciary relationship between the owner and the manager, This agreement gives the manager a legal authority to manage all the operations of the property whether it is advertising the property for sale or collecting rent.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Business Law - Contracts 1.         All agreements made between two consenting adults are legally enforceable.            ...
Business Law - Contracts 1.         All agreements made between two consenting adults are legally enforceable.             a. True             b. False 2.         The essential elements of contract formation are:             a. mutual assent, consideration, capacity, and fairness             b. consideration, legality, capacity, and enforceability             c. legality, capacity, a written document, signatures by all parties             d. mutual assent, capacity, consideration, legality             e. none of the above 3.         Generally speaking, oral contracts are just as legally binding as written...
40. Does a counter proposition enjoy the same rights of withdrawal (before acceptance) as the original...
40. Does a counter proposition enjoy the same rights of withdrawal (before acceptance) as the original offer to purchase? A. Yes, it is a new offer                                                                                 C. Only after 3 days B. No, it was rejected by the seller                                                      D. Only after 5 days                                                                            41. Mary just listed her neighbor’s property. What kind of contract does her brokerage have with them? A. Listing agreement                                                     C. Contract for deed B. Buying agreement                                                 D. Installment contract 42. Who are the principal...
QUESTION 1 Which one of the following would NOT be necessary for an offer to have...
QUESTION 1 Which one of the following would NOT be necessary for an offer to have legal standing? A. The language must reflect the intent to become a party to a contract. B. All of the conditions under which the offer would be terminated must be identified. C. All the significant terms and/or conditions must be contained in the offer. D. The offer must be effectively communicated to the other party. 3 points    QUESTION 2 Which one of the...
“Unilateral contracts” are those in which only one side gives consideration to the other. True/False Privately...
“Unilateral contracts” are those in which only one side gives consideration to the other. True/False Privately owned businesses generally do not have to respect Constitutional rights of employees, because the Bill of Rights was designed just to protect people from actions of Government – not from actions of private parties like private businesses. True or False 3. True or False  “Chapter 7” bankruptcy petitions (sometimes referred to as “total liquidation”) are always filed voluntarily, by the debtor. The debtor cannot be...
If called by a merchandiser, you should be skeptical of all of the following except: Question...
If called by a merchandiser, you should be skeptical of all of the following except: Question 22 options: 1) a last chance offer 2) a business you have never heard of 3) a requirement for a small down payment 4) lack of a written contract
Answer all 10 statements If True or False: 1.Candace gave Shelley a purse for her birthday....
Answer all 10 statements If True or False: 1.Candace gave Shelley a purse for her birthday. This situation is covered by Article 2 of the Uniform Commercial Code. 2. Firm offers may be revoked within the first three months for lack of consideration. 3.Common carriers may never limit their liability by contract. 4.The UPS driver accepted a bad check from the consignee while delivering a COD shipment. The UPS driver will not be liable to the shipper for the amount...
QUESTION 11 The Patient Self Determination Act was enacted to ensure that patients are informed of...
QUESTION 11 The Patient Self Determination Act was enacted to ensure that patients are informed of their rights to execute advance directives. True False QUESTION 12 A hospital enters into an exclusive contract with a physician or physician group to provide specialty services (e.g., anesthesia or emergency department coverage). If that decision is challenged by a physician who has been excluded from performing those services, the courts generally defer to the hospital's decision and find in favor of the hospital....
THIS TEACHING CONTRACT (''Contract'') is entered into and becomes effective as of August 11, 2019 by...
THIS TEACHING CONTRACT (''Contract'') is entered into and becomes effective as of August 11, 2019 by and between Pretend Community College (''Employer''), and Mandy Gruhlkey (''Employee''). IN CONSIDERATION of the promises and of the mutual covenants contained herein, and for other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto do hereby agree as follows: 1. Employment. Employer hereby engages Employee to serve as a political science and business professor and Employee hereby accepts such an...
QUESTION 1 A contract induced by improper threats or undue influence is void. True False 1...
QUESTION 1 A contract induced by improper threats or undue influence is void. True False 1 points    QUESTION 2 A contract made by a person under guardianship is voidable. True False 1 points    QUESTION 3 A contract with a minor remains in force unless the minor decides that he or she does not wish to be bound by it. True False 1 points    QUESTION 4 A person who was intoxicated at the time he made a contract...
1. Which of the following is true of apparent authority? A. It arises when an agent...
1. Which of the following is true of apparent authority? A. It arises when an agent falsely claims to be acting under the authority of a principal. B. It requires express authorization, in words or writing, from the principal to the agent. C. It arises when the principal leads a third party to reasonably believe that an agent is authorized to act for the principal. D. It can only arise when the principal owes the agent a fiduciary duty. 2....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT