A real estate broker must keep a copy of a purchase agreement and receipt for deposit for minimum of three years. The three years starts at:
a. close of escrow.
b. the contract date of the agreement.
c. the effective date of the agreement.
d. the date the agreement is recorded.
Answer: a. close of escrow.
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JP Wholesalers is one of the largest wholesalers of wooden furnishings in the country. Recently, the company opened a chain of stores called JP Designer Homes that has become popular due to the good reputation the company has as a wholesaler
The company has now started acquiring smaller retail chains and consolidating its position in the market. Which of the following trends is reflected in this scenario? A) the shift toward self-service retailing B) the decline of superstores and megastores C) the decline of the voluntary chain distribution method D) the rise of franchise organizations and joint partnerships E) the blurring of distinctions between retailers and wholesalers