Contracts
A Vermont listing agreement that does not specify an expiration date is:
AValid and continues indefinitely until cancelled
BConsidered to have a reasonable duration under Vermont law
CPotentially unenforceable as Vermont law generally requires a definite listing period✓ Correct
DAutomatically renewed every 90 days
Explanation
Vermont real estate regulations generally require listing agreements to have a definite expiration date. A listing without a clear termination date may be considered unenforceable or contrary to professional standards.
People Also Study
Related Vermont Questions
- A Vermont real estate listing agreement that sets no expiration date:Contracts
- Vermont's subdivision regulations generally require a developer to obtain local approval before:Land Use & Zoning
- Vermont's Uniform Standards of Professional Appraisal Practice (USPAP) require appraisers to:Property Valuation
- A Vermont listing agreement with an 'automatic extension clause' that extends the listing indefinitely without the seller's active consent would be:Contracts
- Vermont's license law requires that a listing agreement must specify which of the following?Vermont License Law
- In Vermont, a real estate purchase and sale agreement is considered 'executory' until:Contracts
- A Vermont seller signs a listing agreement with Broker A. Before any offer is received, the seller signs a second listing agreement with Broker B for the same property. Regarding the first agreement:Contracts
- Under Vermont law, a commercial tenant who holds over (remains in the property after the lease expires) without a new agreement creates a:Property Management
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 Vermont Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Vermont Quiz →