Under NC law, a broker's listing agreement that has not yet expired but the seller instructs the broker to stop all marketing activity must result in:
Why The broker following the lawful client instruction to suspend marketing, while the listing agreement remains in effect Is Correct
Answer B: The broker following the lawful client instruction to suspend marketing, while the listing agreement remains in effect
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
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Key Terms to Know
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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.
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