Contracts
Under Oklahoma law, who has the authority to terminate a listing agreement before its expiration date?
AThe broker may terminate at any time without consequence
BThe seller may terminate but may owe the broker compensation if the broker has substantially performed; the broker may also terminate for cause✓ Correct
CNeither party may terminate a listing before expiration
DOREC must approve any early termination
Explanation
Both parties may potentially terminate a listing early. The seller may terminate but could owe the broker compensation for work performed or under protection period clauses. The broker may terminate for cause. Early termination terms are typically addressed in the listing agreement.
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