A prospective buyer gave their broker a personal check for $1,000 payable to the seller along with an offer to buy the property. The buyer told the broker the check was not to be cashed until the end of the month. Which of the following is correct?
a. The broker is to refuse to accept the check.
b. The broker is to accept the check, but deposit into their trust account within 24 hours.
c. The broker needs to deliver the check either to the seller or escrow upon acceptance.
d. The broker may hold the check, but needs to tell the seller it is being held uncashed before the seller accepts the offer.
Answer: d. The broker may hold the check, but needs to tell the seller it is being held uncashed before the seller accepts the offer.
You might also like to view...
Which of the following statements about hospitals is most correct?
a. Patients at general acute care hospitals typically have long patient stays, often 30 or more days. b. The number of specialty hospitals has declined over the last three decades. c. The optimal size for a hospital is roughly 50 beds. d. The majority of hospitals are public or not for profit (as opposed to investor owned). e. Most physicians involved with hospital services are hospital employees.
A group of eBay employees developed an online marketplace to help small producers gain access to global customers
To start up the new concept, eBay considered the options of customizing the existing eBay shopping experience, creating a completely separate branded market place, or creating a hybrid model that combined the first two options. For eBay this is a ________ strategy decision. A) product B) pricing C) promotion D) social