Texas Real Estate Chapter 7 Key Terms
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8 Terms
Independent Contractor
one who contracts to do work according to personal methods and is responsible to the employer only for the results of that work
License Holder
one who holds a license
License Revocation
to recall and make void a license
License Suspension
to temporarily make a license ineffective
Recovery Trust Account
a stateoperated fund that can be tapped to pay for uncollectible judgments against real estate license holders
Sales Agent
a person employed by a broker to list, negotiate, sell, or lease real property for others
Sales Association
a sales agent or broker employed by a broker
Texas Real Estate Commission
the state board that advises and sets policies regarding real estate license holders and transaction procedures
Note 
Flashcards (34)