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Question - The written employment agreement, required by Commissioner's Regulations between an employing broker and salesperson, is an example of:

Written by Posted On Friday, 19 April 2019 05:00

(A) Implied contract
(B) Ratification
(C) Bilateral executory contract
(D) Unilateral contract

Answer:  (C) A “bilateral” agreement is one in which promises are exchanged. An “executory” contract is related to performance and something remaining to be done by one or both parties. The agreement between broker and salesperson is an example of a “bilateral executory” contract.

Read 1352 times Last modified on Friday, 19 April 2019 06:44
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