No Writing Is Required for a Contract by Which a Broker

question 43

True/False

No writing is required for a contract by which a broker agrees with a customer to buy or sell securities for the customer because that is an agency - not a sales -agreement.

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Definitions:

Property

Assets or possessions belonging to an individual or entity, which can include physical items, real estate, intellectual property, and other rights of ownership.

Bailment

A legal relationship in which physical possession of personal property is transferred from one person to another with the understanding that the property will be returned.

Personal Property

Movable items owned by an individual as opposed to real estate or land.

Property Rights

Legal rights to possess, use, and dispose of assets including real estate, personal property, and intellectual property.