Score 1 of possible 1 point Tybalt listed his property with Broker Lawrence for

Score 1 of possible 1 point tybalt listed his

This preview shows page 7 - 9 out of 9 pages.

Question 12 of 15 Score: 1 (of possible1 Tybalt listed his property with Broker Lawrence for a period of 120 days. After 30 days, Tybalt became impatient, informed Lawrence that he was terminating the listing, and gave open listingsto several brokers. A few weeks later, one of the brokers with an open listing sold Tybalt's property. Which of the following is true? point) A.Lawrence may ask a court to void the open listings.B.Tybalt canceled his first listing legitimately and owes nothing to Lawrence.C.Tybalt may owe a commission to Lawrence as well as to the broker who was the procuring clause.D.Lawrence may share the commission with the broker who arranged the sale.Answer Key: C Feedback
Image of page 7
Explanation: Because the property sold while the listing period with Lawrence was still in effect, Tybalt may owe a commission to Lawrence as well as to the broker who actually arranged the sale of the property. A seller may not unilaterally revoke a listing agreement. Question 13 of 15 Score: 1 (of possible1 What clause allows a broker to collect a commission even after the listing period has expired point) Question 14 of 15 Score: 1 (of possible1 Which of the following is the duration for listing periods in the state of California? point)
Image of page 8
Question 15 of 15 Score: 1 (of possible1 Which of the following persons is required under California law to provide a Transfer Disclosure Statement when transferring title to residential property? point) 1 of 1
Image of page 9

You've reached the end of your free preview.

Want to read all 9 pages?

  • Fall '17
  • Janet Truscott

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture