Question: Please respond to each question below. Explain how you arrived at your response. One or two sentences per item should be adequate for your responses.
Please respond to each question below. Explain how you arrived at your response. One or two sentences per item should be adequate for your responses.
- Homeowner Ruth Younger is trying to sell her house without a real estate agent. After three months with no offers, she posts the following in a Craigslist post about the ad, "3% commission paid to buyer's agent at closing." Salesperson Lena calls Ruth, identifies herself as a real estate agent, and makes an appointment to show the home to a client. While showing the home, Lena verbally confirms with Ruth that Ruth will pay a 3% commission for a successful sale. Lena's client makes an offer to purchase, but the offer does not mention any commission for Lena. If Ruth accepts this offer and the sale goes through, does she owe Lena a commission? Be sure to include why or why not in your response.
- Agent Green shows her client Susan Sage a house. Sage stresses her need for peace and quiet in a home to purchase, and really likes the house Green has shown her for that reason. Green happens to know that a new shopping center is scheduled to be built right behind the house in the next year, but does not share than information with Sage because Sage didnt ask about surrounding properties or the possibility of future development. Sage immediately decides to buy the house, and has Green submit an offer, which the owner accepts. Before the sale closes, Sage reads an article about the new shopping development in a local news source and she is very upset. Does Sage have to go ahead with the purchase? Be sure to include why or why not in your response.
- Martha Vazquez agreed to a 18-month lease on an apartment at Jubilee Estates during a conversation with the property manager on March 10 and moved in a few days later. Is the oral lease contract valid? Can the management of Jubilee Estates enforce the oral contract if Martha moves out before the end of the lease term? Be sure to include why or why not for each question in your response.
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