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Flashcards in Principles 1 Deck (5)
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1

Responsibilities of the real estate commissioner

- Screens candidates for licensing

- Prepares subdivision public
reports

- Conducts licensee disciplinary action

- Investigates nonlicensees performing activities for which a license is required

- Regulates nonexempt franchises and real property securities

2

Small business administration (SBA)

- No more than 1 million dollar in sales annually

- No more than 250 employees

3

Uniform commercial Code governs what?

- the sale or transfer of goods ordinarily held for sale in the course of business.

4

Bum transfer of goods

- Any transfer of a substantial part of the materials, supplies, merchandise, equipment, or other inventory that is not in the ordinary course of the transferor’s business.

5

Prepaid Rental Listing Service (PRLS)

- Is a business that supplies prospective tenants with listings of residential real property on payment of a fee collected at the same time or in advance of when the listings are supplied.