medium · National Real Estate Exam
A listing agent receives a valid written offer on a Saturday but decides to wait until Monday to present it to the seller. On Sunday, the seller accepts a different offer.
If the first buyer sues for damages, what is the seller's legal defense regarding the first offer?
- The seller is not liable because they did not have actual possession of the written document.
- The seller has no defense against 'lack of notice' because the law considers the seller to have received the offer the moment the agent did.
- The seller can sue the buyer for failing to deliver the offer directly to the principal.
- The seller is only liable if the listing agreement contained an 'immediate disclosure' clause.
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