Under Ohio law, when a listing agreement reaches its stated expiration date without being renewed, the agency relationship:
Correct Answer
A) Terminates on the expiration date specified in the agreement
Under ORC §4735.55, Ohio listing agreements must contain a definite expiration date. When that date is reached without renewal, the agency relationship terminates automatically.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
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