Toni asked Adler, a real estate broker, exclusive agency to sell her farm house, and promised to pay 5% commission on the sale. Toni's friend, Deena, approached her to buy the farm house at $100,000 on 24th Nov 2010 and Toni decided to sell the farmhouse to Deena, entering into an agreement. On 1st Dec 2010 Alder found a buyer for the farmhouse who was ready to purchase the farmhouse at $105,000. However, the sale could not take place due to the prior agreement with Deena. What commission is Alder entitled to receive for this job?
A) Zero dollars, because Toni had found the buyer.
B) 5% of $100,000 i.e. $5,000.
C) 5% of $105,000 i.e. $5,250.
D) Half of 5% of $100,000 i.e. $2,500.
E) Half of 5% of $105,000 i.e. $2,725.
Correct Answer:
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