Contracts
Under Nebraska law, a listing agent who represents a corporation selling real property must ensure the contract is signed by:
AAny employee of the corporation
BAn authorized officer, director, or agent with authority to bind the corporation✓ Correct
CThe corporation's attorney only
DAll shareholders of record
Explanation
For a corporation's real estate transaction to be binding, the contract must be executed by someone with actual authority to bind the corporation — typically an authorized officer or agent, often evidenced by a corporate resolution.
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Key Terms to Know
Purchase Agreement
A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
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