Under Ohio law, buyer's agent Porter has a written buyer representation agreement with client Sanders. Sanders becomes frustrated because Porter has not found a suitable property after three months. Sanders stops returning Porter's calls and begins working with another agent. Under Ohio law, what is the status of the buyer representation agreement?
Correct Answer
A) The agreement remains in effect until its expiration date, and Sanders may have obligations under its terms
Under Ohio contract law, a buyer representation agreement remains in effect until its stated expiration date unless properly terminated by the parties. Sanders's non-communication does not automatically terminate the agreement, and Sanders may have obligations including exclusivity provisions.
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Related Topics & Key Terms
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Related Concepts
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
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