Seller Vincent decided to let the listing agreement he had with broker Bob expire and sell the property himself. Prospective buy
ers who looked at Vincent's farm twice while Bob had the listing remained interested in the property, and they want to buy the farm from Vincent directly. Does Bob retain any interest in this transaction
Yes, Bob does retain interest in this transaction as he registered under safeguard terms. because the protection clause suggest:-
A former agent is additionally obligated to the buyer registered under the protection provision in the listing agreement if the seller is shown the property by an agent within the listing term as the listing expires. The seller will still be required to pay the agent's fee if a protected buyer tries to make a direct purchase from them while the protection period is still in effect.
<h3><u>What is the purpose of a protection clause?</u></h3>
A safety protection provision is intended to guarantee that a broker gets paid fairly for their services and to prohibit buyers' and sellers' collusion.
A contingency known as a broker protection clause, sometimes known as a safety clause or extension clause, is present in listing agent contracts. This provision states that in some circumstances, even if the house sells after their listing has expired, the seller will pay the listing agent commission fees.
To know more about protection clause, check the given links.
Sabbatical refers to a paid leave given to employees in order to study or travel. The term sabbatical is taken from the bible (where God rest on the seventh day after working for six days). Because of this, some companies only granted a sabbatical only if they already dedicated their life for the company for 7 years.
I think that the stament given above is true, as this principle <span>lets business survive or fail without much interaction from the government.</span>
