Broker Able had an exclusive authorization and right to sell listing that expired at 10am on February 19th. At 11am on February 19th, Seller Baker signed a new listing agreement with Broker Charlie, who was another real estate broker. At noon on February 19th, Broker Able presented a full price offer to the seller. Which of the following is correct?
a. Broker Charlie is entitled to a commission
b. Broker Able is entitled to a commission
c. No one is entitled to a commission
d. None of the above
Answer: a. Broker Charlie is entitled to a commission
Business
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Factoring is the process of selling accounts receivable to another firm at
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