Under most Australian state legislation, what is the minimum period an agency agreement must remain in effect?
Correct Answer
D) No minimum period is set
Australian agency legislation does not set a minimum period for an agency agreement; the term is negotiated between vendor and agent. Some states instead limit how long an exclusive or sole appointment can run, or give the vendor rights to end a long one, so check your state's rules on maximum terms.
Why This Is the Correct Answer
Agency legislation regulates what an agreement contains and, in some states, how long an exclusive term can run, but no state sets a minimum period. The parties negotiate the length.
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