Final answer:
The Broker-Lawyer Committee is tasked with drafting and revising contract forms for TREC's approval, ensuring they meet legal standards and market practices.
Step-by-step explanation:
The committee responsible for drafting and revising contract forms for approval and adoption by the Texas Real Estate Commission (TREC) is the Broker-Lawyer Committee. This committee consists of real estate brokers and attorneys appointed by the Commission and the State Bar of Texas, respectively. The work of this committee is crucial as it ensures that contracts meet current legal standards and adequately protect the parties involved in real estate transactions. They create and edit forms that are fair and useful for real estate practices, reflecting changes in legislation and market practices.