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The main problem that can arise with a dual agency is the agent may experience a
conflict of interest.
The purpose of requiring consideration is to demonstrate that a bargain has been struck
between the parties to the contract.
An agreement by the insurance company to extend coverage to perils not covered by
the basic policy is called an insurable interest.
The money used by the secondary market to purchase loans comes from deposits in
institutions.
The grantee's signature is required in a deed.
Regulation Z requires a lender to disclose the dollar amount of any finance charge.
In a limited partnership, the limited partners cannot lose more than the amount they
have invested.
In some states, the use of a ____________________ month may be used instead of the
actual days of the month.
A formal declaration by a person signing that he or she did, in fact, sign the document is
called a jurat.
If the property taxes are not paid, the property is sold at a public auction.
The legal right of a utility company to maintain power lines along the back of a lot is
called adverse possession.
Higher prices due to buyers bidding against each other causes ____________________
inflation.
An environmental impact statement should reveal the effect of a planned development
on property values.
____________________ management consists of duties that can be accomplished
without being on the premises.
A government may acquire ownership of privately held land by patent.
A broker is employed to find a buyer using an exclusive right to sell listing. He finds
one at the seller's price and terms. If the seller then refuses to sell, the broker is entitled
to a full commission.
When an existing structure does not conform with a new zoning law, it is
"grandfathered-in" as a nonconforming use.
