Free Pennsylvania Real Estate Practice Exam Practice Question
Which of the following situations would cause the termination of a listing contract?
Correct Answer: A
Rationale: The termination of a listing contract occurs when the seller, as the principal party, can no longer fulfill the agreement due to death (Option A). This directly impacts the contract's validity. In contrast, the death of the listing salesperson (Option B) does not terminate the contract, as the brokerage can assign another agent to continue the listing. Bankruptcy of the listing salesperson (Option C) also does not affect the listing, as the brokerage remains responsible for the contract. Lastly, rejection of a counteroffer by the seller (Option D) does not terminate the contract; it simply means negotiations continue.
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