Marlon intends to sell a piece of real estate he owns and contracts Nita,a real estate broker,to make the sale.In the contract,Marlon authorizes Nita to make the sale at or above a minimum price he wants and the date by which he wants the sale to be completed.The contract also stipulates that Marlon should not hire another broker to sell that piece of land until the expiry of the contract period.Nita finds a suitable buyer,makes the sale in time,and is paid by Marlon for her services.Which of the following types of agency had Marlon and Nita entered into?

Question

Quizplus · Accepted Answer

The contract between Marlon and Nita clearly outlines the terms and conditions of their agency relationship, including Marlon's authorization for Nita to make the sale at a specific minimum price and within a specific time frame. This type of agency is known as an express agency. The other options (apparent agency, agency by ratification, implied agency) do not accurately describe the relationship between Marlon and Nita as outlined in the scenario.

Marlon Intends to Sell a Piece of Real Estate He