Contracts and Agency Exam 1 Flashcards Preview

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Flashcards in Contracts and Agency Exam 1 Deck (5)
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1
Q

Contract between broker and sales agent: Uni or bilateral?

A

Unilateral

2
Q

A contract that has been signed but not executed is…

A

Executory

3
Q

The mortgage instrument is executed by the…owner, lender, or agent

A

Owner

4
Q

Novation is…

A

replacing one contract with another

5
Q

Any contract can be rescinded if…

A

both parties agree