Contracts
A Kentucky real estate listing agreement is a type of contract known as a(n):
ABilateral contract✓ Correct
BUnilateral contract
COption contract
DImplied contract
Explanation
A listing agreement is a bilateral contract in which both parties make mutual promises: the seller promises to pay a commission if the agent performs, and the agent promises to use reasonable efforts to find a buyer. Both parties are bound by their promises.
Related Kentucky Contracts Questions
- A Kentucky purchase contract for commercial property typically contains which additional provisions not common in residential contracts?
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- Under Kentucky contract law, which of the following makes a contract voidable?
- The procuring cause doctrine in Kentucky determines:
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