one month
A Farm Lease that has expired is presumed to been continued for another year if the tenant holds over without opposition for:
one month
A Lessor must return a deposit to the lessee or provide an itemized statement of the reason for retention of all or part of the deposit within:
Redhibition
The avoidance of a sale on account of some vice or defect in the thing sold is called:
Vendor
The seller is called the
FHA, VA, Loans covered by Louisiana Consumer Credit Law, Loans for commercial or business purpose, loans to corporations or partnerships
Which of the following types of loans are exempt from the Louisiana usury law
Vendors Privilege
A right granted to a seller for the unpaid sales price is called the
community property
A system of principles and rules governing the ownership and management of the property of married persons or between themselves and toward third persons is called:
every page
A broker must include his name, office address and license jurisdiction in all advertising on a website. At a minimum, the information must appear on at least
qualifying broker
The broker that is the representative of a corporation or partnership in all matters relating to its real estate activities is the
irrevocable during that time
An offer that specifies a time for acceptance
Must be provided to all prospective sells/buyers at first face to face contact, should be signed and dated by client and kept by the licensee for 5 years, if the client refuses to sign it, the licensee must write the time, date and reason for refusal, sig
Which of the following is true regarding the Agency Disclosure Informational Pamphlet?
the month and year it was printed
All printed ads for the sale of residential real estate must include
public thing
In Louisiana property law, how would you define a public park?
must be approved by the sponsoring broker
Advertising by an Associate Broker
5
Each member of the commission shall have been actively engaged in the real estate business as a broker for how many years next preceding the date appointment
5
How many members of the commission shall constitute a quorum for all business
it is owned 100% by the licensee that earned the commission
A commission may be paid to an unlicensed holding company if
5
If the Commission requests an account affidavit the broker must submit it within how many days following the request
disclosing his position in writing to the owner
A licensee shall not acquire an interest in or purchase for himself any property listed with his company without
In void
It either party dies or becomes incapacitated before acceptance, the and offer
there is no charge to transfer if done within 60 days
If the license of the sponsoring broker is revoked
This is a violation of the license law because Mr. Smooth is soliciting business prior to having a license.
Mr. Smooth is currently registered in a real estate class. While attending this school he finds out that his best friend from grammar school is moving in Houston. Mr. Smooth talks to his pal and ask her to wait to buy a home until he gain his real estate
written authority of the owner
A broker must have _____________ to advertise
a licensee must return all listing information, keys and contracts to the broker, the licensee shall not induce clients to terminate their business relationship with the broker, a broker that believes a licensee is encouraging clients to break listings or
If the relationship between a salesperson and a broker end
they are paid strictly by salary
Persons working for a licensed property manage do not have to be licensed
open account titled "security deposit trust account
If a broker is involved in obtaining deposits in property management the broker must
put the time and date on the disclosure
If a client refuses to sign an agency disclosure, the licensee must
Cause
What is the Louisiana Civil Law term which is similar to the term "consideration" in Common law
qualifying broker
Any corporation or partnership operating as a broker in the state of Louisiana must have
45 days
After how many days notice after a buyers default in payments may a bond for deed be cancelled
property has been sold for less than 1/2 of it value
Lesion beyond moiety has a its basis that
A transfer to inactive status requires the licensee to remit the applicable fees
Which of the following is true about inactive statue
written agreement
Subagency may only be created by
Broker
The license of each associate broker is delivered and mailed to which of the following from the commission
31-Dec-98
A person who was licensed originally on November 15, 1988 would have that license expire on
3 months
The period for delinquent renewal of an expired license will be limited to how long following the expiration date of the active license
sponsoring broker
salespeople cannot accept a commission or valuable consideration for the performance of any act under the license law from any person except their
A mold informational pamphlet is to be distributed to buyers by licensees at the time a lease of contract to purchase is entered into
Which of the following statements is/are true regarding the mold informational pamphlet
immediately
Licensee are required to furnish to their clients a fully executed copy of agreements to purchase or sell and a fully executed copy of listing
The institution of a criminal prosecution by arrest or indictment the subject matter of which involves a real estate transaction to which he was the party.
Which of the following statements about legal action requires that a licensee notify the commission within 10 days?
False. at no time
Louisiana lease must be in writing to be valid
20
Before holding a hearing, a licensee must be notified at lease how many days in advance
the licensee must give a written disclosure to both clients to receive a referral fee for the one withdrawing
If one client does not consent to dual agency in a Louisiana transaction
customer
A person who is not represented by, but for whom the licensee is performing ministerial acts is
each client and licensee only know the information they were actually given
In dual agency in Louisiana
writing an offer to purchase real estate
ministerial acts" in Louisiana law do not include
the price the seller or landlord with take other than the listing price
When acting as a dual agent, a licensee shall not disclose
Gratuitous contract
When one party is obligated for the benefit of the other, buy receives not return advantage this is called
Commutative contract
When the performance of either party is correlative to the performance of the other this is an example of what type of obligation
Relatively null
Lack of legal capacity makes the contract