Before a property sells, both the owner and the broker sign a cancellation of the listing agreement. How has the agency ended?
Correct Answer
D) Termination by mutual agreement
Termination by mutual agreement is correct because the facts match the ending of an agency relationship because both principal and agent consent to terminate it. That is the best description of the relationship, right, or legal concept tested here.
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A listing agreement states that it ends at midnight on September 30, and no extension is signed. What event terminates the agency on that date?
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Elena Bailey fires the broker before the listing term ends even though the broker did nothing wrong. What is the seller's act called?