O. unauthorized practice of law
Misdemeanor under Business and Professions Code §6125
B. contra proferentem
Ambiguous terms in a contract should be interpreted against the party
drafting the document
C. electronic record
Record created, generated, sent, communicated, received, or stored by
electronic means
D. electronic signature
Electronic sound, symbol, or process attached to or logically
associated
with a record and executed or adopted by a person
with the intent to sign
the record
F. listing agreement
Written contract by which a principal, or seller, employs a broker to
sell
real estate
H. no deal, no commission clause
Clause expressly stating that no commissions are paid unless the
property
actually sells
L. procuring cause
Person responsible for the ultimate sale of real property so as to be
entitled to a commission
N. safety clause
Clause protecting listing broker’s commission, if the owner
personally sells
the property to someone who was shown the
property or made an offer
during the term of the listing
E. exclusive agency listing
Listing in which the broker is entitled to a fee only if the seller
does not
find a buyer on his or her own
I. open listing
Listing, not exclusive to one broker
G. net listing
Listing between a broker and a seller setting the broker’s fee above
a
certain minimum amount
A. buyer representation agreement
Employment contract between a buyer and a broker
M. purchase agreement
Original purchase contract between the buyer and seller
J. option
Contract to keep an offer open for a set period of time
K. optionee
Person who wants to purchase or lease property under an option