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MAP QUESTIONS
Instructions: Choose the letter on the accompanying map of the eastern United States that correctly identifies each of the following:
National (Cumberland) Road
Listing Agreement
A contract between a property owner and a real estate agent, authorizing the agent to act on the owner’s behalf in the sale of the property.
Privity of Contract
A principle in contract law stating that only parties involved in the contract have the right to sue to enforce their rights or claim damages.
Commission
A fee paid for services, typically a percentage of the transaction value, to an agent or salesperson for facilitating or completing a sale.
Agreement of Purchase and Sale
A legally binding contract between a buyer and seller detailing the terms and conditions of the sale of property.
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