Massachusetts Real Estate Salesperson Exam — All Questions
AllProperty OwnershipLand Use Controls and RegulationsValuation and Market AnalysisFinancingContractsAgencyProperty DisclosuresTransfer of TitlePractice of Real EstateProperty ManagementReal Estate CalculationsMassachusetts License LawMassachusetts Agency & FacilitatorMassachusetts Practice & DisclosureMassachusetts Licensing Requirements
52 questions
Contracts
A contract signed by a 16-year-old minor to purchase real estate is generally:
- a.Voidable by the minor✓
- b.Void from the start
- c.Automatically enforceable after 30 days
- d.Fully enforceable against the minor
Contracts with a minor are generally voidable at the minor's option because minors lack full contractual capacity. The minor may disaffirm the contract. A void contract, by contrast, has no legal effect from the outset for either party.
Contracts
A remedy that compels a defaulting seller to actually convey the specific property, because real estate is considered unique, is called:
- a.Specific performance✓
- b.Liquidated damages
- c.Reformation
- d.Rescission
Specific performance is an equitable remedy compelling a party to perform the contract, often used in real estate because each parcel is considered unique and money damages may be inadequate. A buyer may seek it when a seller wrongfully refuses to close.