Vocabulary Words

Question 1

The failure to occupy and use property which may result in loss of rights

Answer 1

Abandonment

Question 2

A brief; chronological summary of recorded documents affecting title to a particular parcel of real property

Answer 2

Abstract of Title

Question 3

Aggreeing to the terms of an offer to enter into a contract, thereby creating a binding contract; taking delivery of deed

Answer 3

Acceptance

Question 4

Contract clause giving the lender the right to declare the entire loan balance due immediately because of default, or other reasons stated in the contract

Answer 4

Acceleration Clause

Question 5

The relative ease with which customers can get to a retail establishment. Also called Ingress/Regree

Answer 5

Accessibility

Question 6

A clause in a commercial lease that gives the tenant flexibility to expand and contract the amount of space occupied

Answer 6

Accordion Clause

Question 7

In an agency relationship, the agent’s statutory duty is to account to the principal

Answer 7

Accountability

Question 8

The gradual addition of land by the forces of nature

Answer 8

Accretion

Question 9

Items on a settlement statement for which cost has been incurred, but the expense has not yet been paid

Answer 9

Accrued Expenses

Question 10

The act of signing a document before a notary public, stating it was signed voluntarily

Answer 10

Acknowledgment

Question 11

Fraud meeting certain criteria, so a victim can successfully sue. Victim/Plaintiff must prove the defendant concealed material facts or made false statements (intentionally/negligently) with the intent to induce the victim to enter a transaction, and that victim was harmed by relying on these misrepresentations

Answer 11

Actionable Fraud