Under Ohio law, listing broker Phelps has an exclusive right-to-sell agreement with seller Briggs that includes a protection clause naming three buyers shown during the listing period. After the listing expires, Briggs lists with a new broker. One of the named buyers submits an offer through the new broker and Briggs accepts. Under Ohio law, who is entitled to the commission?
Correct Answer
D) Broker Phelps has a valid claim under the protection clause, though the matter may require negotiation or arbitration with the new broker
Under Ohio law, the protection clause gives Broker Phelps a valid commission claim on buyers introduced during the original listing period. However, with a new broker also involved, the matter may require negotiation or arbitration to resolve competing claims.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
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