Contracts
A NJ listing agreement that lacks a specific expiration date is:
AValid and continues indefinitely until the property sells
BGenerally unenforceable or terminable at will because NJ requires listing agreements to have a definite expiration date✓ Correct
CAutomatically renewed annually
DExtended by NJREC for up to one year
Explanation
NJ regulations and NJREC guidelines require listing agreements to have a definite expiration date. A listing without one is generally viewed as terminable at will and may not be enforceable for commission purposes.
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