Which Rhode Island rule applies when a listing agreement lists property with a multiple listing service?
Correct Answer
D) The agreement must specify the complete name of the multiple listing service
230-RICR-30-20-2 § 2.26 requires listing agreements that use a multiple listing service to specify the complete name of the service. Source basis: Rhode Island Department of State official regulation 230-RICR-30-20-2 § 2.26 and R.I. Gen. Laws § 5-20.5-14; checked 2026-04-30.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
Novation is the substitution of a new contract for an existing one, or the replacement of one party with a new party, with the consent of all parties involved. The original party is completely released from all obligations.
Offer and acceptance is the process by which one party proposes specific terms for a contract and the other party agrees to those exact terms, creating mutual assent. This mutual agreement, also called a meeting of the minds, is an essential element of every valid contract.
An option contract gives one party the exclusive right, but not the obligation, to purchase or lease a property at a specified price within a specified time period. The buyer pays option consideration to keep the option open.
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