A broker brought an offer to an owner. While the broker did not have a listing, the offer provided for a commission. The owner crossed out the provision for a commission above the signature block and signed the acceptance. Which is TRUE regarding the broker's rights?
A. By signing the acceptance, the owner made the broker his agent.
B. The broker is entitled to a reasonable commission.
C. The broker is entitled to a full commission if the sale is completed.
D. There was no listing, so no commission need be paid.
Answer: D. There was no listing, so no commission need be paid.
Business
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Fill in the blank with correct word.
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The difference between the left-hand side and right-hand side of a less-than-or-equal-to constraint is referred to as
A) surplus. B) constraint. C) slack. D) shadow price. E) None of the above
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