What essential element is necessary between broker and principal in a transaction involving real property?

A. The agreement must state the terms under which the broker may collect a commission
B. There must be a written contract of employment
C. The broker must have the right to accept a deposit
D. There must be a safety clause so that the seller cannot avoid a commission by waiting until after the listing period ends before selling the house

Answer: B. There must be a written contract of employment
Explanation: Under the statute of frauds, any agreement between a real estate broker and a principal authorizing the broker to find a buyer or a property must be in writing.