Real Estate Principles Chapter 1 & 2

Front 1

Associate Licensee

Back 1

A real Estate sales person or broker who works as the employee of a real estate broker.

Front 2

Blind Advertising

Back 2

Ad in which the name of the person placing the ad is not mentioned.

Front 3

Broker Officer

Back 3

A licensed broker who is an officer of a brokerage that is set up as a corporation and who is designated as the broker responsible for supervision of the licensed employees of the brokerage.

Front 4

Business and Professions Code

Back 4

The Assets of an existing business enterprise, including its goodwill.

Front 5

Business Opportunity

Back 5

The assets of an existing business enterprise including its goodwill.

Front 6

California Bureau of Real Estate

(Cal BRE)

Back 6

California agency that administers the real Estate law, including the licensing of real estate brokers and salespeople.

Front 7

Caveat Emptor

Back 7

Latin phrase meaning

"Let the buyer beware"

Generally, caveat emptor is the contract law principle that controls the sale of real property after the date of closing, but may also apply to sales of other goods.

Front 8

Certificate of status codes

Back 8

Document issued by California secretary of state showing a corporations place of domicile date of incorporation, corporate numbers, name and ADDRESS OF AGENT FOR SERVICE PROCESS AND OTHER INFORMATION.

Front 9

Conditional license

Back 9

License that is issued to salesperson who has not completed all of the required education courses, contingent on all education requirements being met.

Front 10

fictitious business name

Back 10

Document indicating the name under which a business is operating filed with the county where the business is located.

Front 11

Franchise

Back 11

A contract