Contracts (alternative)
Under Maryland law, a listing agreement that has no stated expiration date is:
AA perpetual agreement
BGenerally unenforceable or terminable at will after a reasonable time✓ Correct
CValid for exactly 6 months by statute
DExtended automatically for one year
Explanation
A listing agreement without a definite termination date is problematic in Maryland. Courts may treat it as terminable at will, and MREC's ethical rules require listing agreements to include a definite expiration date.
People Also Study
Related Maryland Questions
- A Maryland listing agreement that does not specify an expiration date is:Contracts (alternative)
- A Maryland listing agent who advertises on social media must include which information per MREC guidelines?Agency (alternative)
- Under Maryland law, the termination of a listing agency agreement occurs automatically upon:Agency (alternative)
- When a Maryland commercial tenant holds over after lease expiration without a new agreement, the tenancy typically converts to:Property Management (alternative)
- In Maryland, a listing agreement is primarily a contract between:Contracts
- A Maryland lease agreement must include which of the following to be enforceable?Property Management
- A Maryland listing agreement is a contract between:Contracts
- A Maryland licensee who solicits a listed property directly from the seller without going through the listing agent is:Maryland License Law
Key Terms to Know
Listing Agreement
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Study This Topic
Practice More Maryland Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maryland Quiz →