Contracts
A Wyoming listing agreement that does not specify an expiration date is:
AValid for a default term of 6 months under Wyoming law
BPotentially unenforceable or terminable at will due to lack of a definite term✓ Correct
CAutomatically extended to one year
DEnforceable for as long as the broker is seeking buyers
Explanation
Listing agreements should specify a definite expiration date. An agreement without a definite term may be unenforceable or terminable at will by either party. WREC rules and best practices require listing agreements to have specific commencement and expiration dates.
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