A listing broker sells an office building to a syndicate of which the broker is a member without informing the seller of this interest. Before closing, the seller discovers the broker's interest and refuses to sell. What would happen in a civil suit to collect a commission?
a. The case would be transferred to the Real Estate Commissioner.
b. No commission would be due.
c. The broker would be awarded their full commission.
d. The court would demand a mitigation hearing.
Answer: b. No commission would be due.
Business
You might also like to view...
Before closing, a cloud on the title was found. Which of these should the seller use to clear the title?
A) Abstract with the title opinion B) Title commitment C) Title insurance D) Suit to quiet title
Business
Which of the following refers to an agreement that substitutes a new party for one of the original contracting parties and relieves the existing party of liability on the contract?
A) novation B) substituted contract C) mutual rescission D) accord
Business