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Questions and Answers
What is the main source of American Common Law?
What is the main source of American Common Law?
- Chicago Building Code
- Administrative law
- Statutory law
- English common law (correct)
Which property type is considered tangible?
Which property type is considered tangible?
- Fixtures
- Real property
- Personal property (correct)
- Property rights
Which concept in Property Law involves the government's right to take property with due process and just compensation?
Which concept in Property Law involves the government's right to take property with due process and just compensation?
- Adverse possession
- Profit rights
- Eminent domain (correct)
- Easement by prescription
In Real Estate Brokers, what is the term for the relationship where a broker has a duty to both parties in a transaction?
In Real Estate Brokers, what is the term for the relationship where a broker has a duty to both parties in a transaction?
Which rule, regarding Broker Commissions, states that a closing is necessary for commission payment?
Which rule, regarding Broker Commissions, states that a closing is necessary for commission payment?
What legal requirement mandates that certain contracts must be in writing?
What legal requirement mandates that certain contracts must be in writing?
Which of the following is NOT a characteristic of American common law?
Which of the following is NOT a characteristic of American common law?
What type of property is considered to have the largest bundle of rights?
What type of property is considered to have the largest bundle of rights?
Which of the following is an example of an administrative law concept?
Which of the following is an example of an administrative law concept?
What is the relationship called when a real estate broker has a duty to both parties in a transaction?
What is the relationship called when a real estate broker has a duty to both parties in a transaction?
Which of the following is a correct statement about the majority rule regarding real estate broker commissions?
Which of the following is a correct statement about the majority rule regarding real estate broker commissions?
Which of the following is a type of non-possessory property interest?
Which of the following is a type of non-possessory property interest?
Which of the following is a characteristic of personal property?
Which of the following is a characteristic of personal property?
Which of the following legal requirements mandates that certain contracts must be in writing?
Which of the following legal requirements mandates that certain contracts must be in writing?
Which of the following is a characteristic of the minority rule regarding real estate broker commissions?
Which of the following is a characteristic of the minority rule regarding real estate broker commissions?
Which of the following is a characteristic of administrative law?
Which of the following is a characteristic of administrative law?
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