Contracts and Agency Exam 1 Flashcards
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Any contract can be rescinded if…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
