ContractsIntermediateDelaware Exam
Which type of listing agreement gives the owner the most control and the broker the least security?
AExclusive right to sell
BExclusive agency
COpen listingCorrect
DNet listing
Why Open listing Is Correct
Answer C: Open listing
An open listing allows the seller to list with multiple brokers simultaneously, and only the broker who procures the buyer earns a commission. The seller may also sell independently without owing any commission.
Exam Tip: Contracts
Contract questions frequently test the essential elements required for a valid contract. Remember: competent parties, mutual consent, lawful object, and sufficient consideration. Watch for void vs. voidable distinctions.
Key Contracts Terms in This Question
Related Delaware Contracts Questions
- Under Delaware law, an executed contract is one that has been:Contracts
- An addendum to a real estate purchase contract:Contracts
- What is the legal remedy of 'specific performance' in a Delaware real estate transaction?Contracts
- Liquidated damages in a Delaware real estate contract are:Contracts
- A Delaware buyer and seller enter a contract 'subject to attorney review.' During this period, the attorneys may:Contracts
- Which of the following best describes 'time is of the essence' in a Delaware real estate contract?Contracts
- Specific performance in a real estate contract lawsuit means:Contracts
- A Delaware home purchase contract includes a mortgage contingency requiring the buyer to obtain financing at 7% or lower. If rates rise to 7.5% and the buyer cannot qualify, what happens?Contracts
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →