A broker used the following clause in his exclusive listing contract, "In consideration of the execution of the foregoing, the undersigned broker agrees to use diligence in procuring a purchaser." This clause:

A: Is superfluous and unnecessary in current contracts;
B: Is necessary for the creation of a unilateral contract;
C: Is important to the creation of a bilateral contract;
D: Requires that the broker advertise the property.

Answer: C: Is important to the creation of a bilateral contract;

Business

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To avoid tenant problems, a landlord is best off using a standardized lease form that includes:

A. a copy of the Uniform Landlord Tenant Act B. a warranty of quiet enjoyment C. a tenancy at will provision D. specific rules and regulations

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An off-price retailing operation that is owned and operated by a manufacturer and normally carries the manufacturer's surplus, discontinued, or irregular goods is called a ________

A) category killer B) factory outlet C) specialty store D) superstore E) warehouse club

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