Broker Hays took a 90-day exclusive agency listing to sell a property that was owned by Wilson. After 30 days, Hays had not sold the property, so Wilson sent him a certified mail letter canceling the listing. One week later Wilson listed the property with several brokers using open listings. Two weeks later, one of the brokers who had an open listing on the property completed a sale to new owners. In this situation Wilson most likely:
A: Did not have the right to give open listings to the other brokers;
B: Had a right to relist the property and also the right to cancel Hays' listing and his notice of cancellation would accomplish this without possible liability to Wilson;
C: Owes the commission only to the selling broker;
D: Is liable for payment of commission to Hays as well as to the selling broker.
Answer: D: Is liable for payment of commission to Hays as well as to the selling broker.
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The two primary personal financial statements include the personal balance sheet and a credit card payoff statement.
a. true b. false
Which of the following examples best illustrates marketing myopia?
a. A text messaging company founded in a small town determines it has no competition because there are no other text messaging companies near-by. b. An established software company that believes start-ups pose no threat. c. A company that sells music devices such as the iPod or MP3 players believes cell phones will not affect their sales. d. None of the above are examples of market myopia. e. All of the above are examples of market myopia.