Q&A Cram Exam $8$

$507$

$787.$ The Raymonde Corporation acquires $60$ acres of ranch land, subsequently subdivides it into fiveacre ranchettes, and offers them for sale. The officers and directors of the corporation agree to pay themselves regular salaries. The corporation will pay each officer or director a commission of $15\%$ of the sales price of any ranchette that said officer or director sells. Which is correct?

a$.$ All officers and directors of the corporation must be registered, licensed brokers with the FREC for this agreement to be legal.

b$.$ Since the corporation may sell its own land, this agreement is legal.

c$.$ The officers and directors are engaged in a syndicate.

d$.$ Civil action may be brought and enforced by the officers and directors if anyone stops this agreement.