Virginia Real Estate Salesperson Exam Preparation Material | Virginia Real Estate Salesperson Exam

Explanation:
A void contract is one that has no legal effect from the beginning. It is not enforceable by law because it lacks essential legal elements or involves unlawful acts.
Common reasons:
Illegal act (e.g., contract to sell illegal drugs)
Fraud, misrepresentation, duress, undue influence
Lacks capacity or lawful purpose
Other options:
(B) Valid contract = fully enforceable by law.
(C) Implied contract = created by actions, not words, but still enforceable.
(D) Oral contract = valid (except when required in writing by the Statute of Frauds).
Reference (Virginia Real Estate):
Virginia Code § 11-2 (Statute of Frauds)
Virginia Real Estate Principles C Contract Law section
A490-02REGS.pdf C Contracts & Legal Enforceability

Explanation:
In Plessy v. Ferguson (1896), the U.S. Supreme Court upheld a Louisiana law mandating racial segregation in railway cars.
The Court ruled that racial segregation was constitutional under the “separate but equal” doctrine.
This legalized segregation in public facilities for decades until overturned by Brown v. Board of Education (1954), which declared segregation in public schools unconstitutional.
Other options:
(B) Refers to Brown v. Board of Education (1954).
(C) Refers to Shelley v. Kraemer (1948) (restrictive covenants).
(D) Refers to Buchanan v. Warley (1917) (racial zoning). Reference (Virginia Real Estate & Civil Rights Law): Plessy v. Ferguson, 163 U.S. 537 (1896)
Brown v. Board of Education, 347 U.S. 483 (1954) Virginia Fair Housing Law history and case law integration

Explanation:
In antitrust law, a per se violation is an act that is considered inherently illegal, regardless of intent or outcome.
Examples in real estate:
Price-fixing (brokers agreeing on commission rates).
Market allocation (dividing territories or clients).
Group boycotts (agreeing not to deal with a competitor).
These acts automatically violate the Sherman Antitrust Act without requiring proof of harm.
Other options confuse per se violations with other laws like TCPA (Do Not Call) or CAN-SPAM (email).
Reference (Virginia Real Estate):
Sherman Antitrust Act, 15 U.S.C. §§ 1C7
Virginia Real Estate Principles C Antitrust section
A490-02REGS.pdf C Professional conduct and antitrust

Explanation:
A contract for deed (also called a land contract or installment sale contract) differs from a standard purchase agreement because:
Buyer makes installment payments directly to the seller.
Seller retains legal title until all payments are made.
Buyer holds equitable title during the payment period.
In contrast, a standard sales contract usually involves financing through a lender, and title transfers at closing.
Thus, the key difference is that a contract for deed spells out the buyer’s payment plan to the seller, not just the purchase price.
Reference: Code of Virginia §55.1 (Property & Conveyances)
Virginia Real Estate Board CE Outline C Contracts Section

Explanation:
The doctrine of escheat applies when a person dies intestate (without a will) and has no surviving spouse, descendants, or heirs. In such cases, ownership of the property passes to the state.
Other doctrines:
(A) Police power = government authority to regulate land use.
(B) Eminent domain = taking private property for public use with just compensation.
(D) Variance = zoning exception. Reference (Virginia Real Estate):
Virginia Code § 55.1-2400 et seq. (Escheats)
A490-02REGS.pdf C Government powers in real estate