Mock 2 Flashcards
Under the common law of agency which of the following statement is true?
An agent who would not have capacity to enter into a contract herself may be able to make a valid her principal on behalf
With the respect to scope of agent authority apparent authority?
Doctrine of a estoppel
Which of the following statements regarding appraisals are true
The court provide some guidelines as to an appraiser it legal responsible under the tort lawl in contract law.
A quart of recognize that the reasonable margin of error exist when calculating damages as a result of negligence appraisal
A large over evaluation of property by an appraiser does not by itself establish liability on the part of the appraiser.
Tenancy at will
The tenant see where the tenant with The constant of a landlord occupied land as a tenant for a term that can be determined by either party at any time
Which of the following statements is true and in regards to open listings
In an open listing contract, if the seller disposes Of the property to a prospect that has not introduced of the listing agent, the seller does not have to pay listing agent that commission
Which of the following statement is true
The supreme court of BC may exercise both common and Equitable Jurisdiction.
Which one of the following statements best describes the difference between an assessment notice and a tax notice?
Attacks notice is a demand for payment while assessment notice is not
Which of the following statements regarding conditions in a contract are true?
In most cases the breach of the condition permits the innocent party to terminate the contract.
Time Is of the essence Clause that indicates that indicate performance is a condition of a contract
Which of the following statements is false
And agency agreement must be written to be enforceable
The agency contract that specifies that the real estate agent has the right to negotiate on behalf of the owner of respect to the sale of the property is called
Exclusive
Long to value ratio is the ratio of
Face value of a mortgage amount divided by not letting value of the property
Which one of the following does not facilitate best negotiation principles
Focussing on stating and defending the position of each party
Canada’s competition of regards false or misleading advertisement
Which of the following is false concerning the offense?
One test that the court used to determine whether a statement is misleading in the context of real estate licensee is a diligent licensee test
The practice of recognizing expenses they are inccured rather than when they are paid for this is
Matching
A balloon payment is any payment of
Principal over and above the regular payments weather occurs during or at the end of the long term
Which of the following would appear as debit on the seller Statement of adjustments
The amount of mortgage which the buyer will assume.
Legal fees involved to discharge a judgement from the sellers title.
The amount of time line for overdue taxes
Bonus mortgages are subject to Pacific legal requirements under probation of
Customer protection act
Which one of the following is not one of the legislative obligations imposed on the strata corporation under the strata property act
Obligation to exercise the power and perform the duties of the strata corporation
At least for real state property is a contract by which the landlord grants
Exclusive possession
An estimate the price potential rent is achieved by
Comparing rents for recently leased familiar spaces
Which of the following statements regarding property appraisals his false
The value of the real property can always be established certainty
Which of the following is not a consideration of planners based on local government planning process
Enforcement of the byelaws of a given local government
Real estate is affected by a wider range of externalities the ny other commodity.it’s because of
Immobility of real estate property
Which of the following statement is true with respect to common law duress
Finding of, common law duress will result in the contract being voidable by the party that the Rob free will to the contract
