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The type of listing given to only one broker but which allows the owner to sell the property without paying the broker is a ___ listing.
exclusive
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An owner must be given a copy of a written listing within ___ hours.
24
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The type of listing that gives the broker the greatest degree of protection is the ___ ___ ___ ___ listing.
exclusive right of sale
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When a court is called upon to interpret the meaning of a contract, the process is called ___.
construction
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Damages specified in a contract are ___ damages.
liquidated
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When a contract has not yet been fully performed, it is an ___ contract.
executory
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A contract wholly in writing may be enforced for ___ years, as specified by the ___ ___ ___.
5, statute of limitations
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Oral real estate sales contracts are considered to be ___, but are not ___.
valid, enforceable
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Valuable consideration in a contract may consist of ___ property, ___ property or ___ ___.
real, personal, enforceable promises
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The parties to a real estate sales contract are the ___, who is the seller, and the ___, who is the buyer.
vendor, vendee
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Witnesses on a real estate contract are ___ ___.
not required
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To be valid, an option must be accompanied by a ___ ___ ___.
definite valuable consideration
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The parties to an option are the ___, who is the owner of the property, and the ___, who is the potential purchaser.
optionor, optionee
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An option not accompanied by a definite valuable consideration is ___.
void
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With a contract for deed, a vendee has acquired ___ ___ in the property prior to closing.
equitable title
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