The broker must retain copies of all sales contracts, listings, closing statements, and other transaction-related documents for 3 Years.
A contract is an agreement between two or more private parties that creates legal duties for both parties. The fundamental components necessary for the agreement to be a valid offer and acceptance, adequate consideration, capacity, and legality are: mutual assent, expressed through a contract-compliant offer, In some states, a legitimate alternative can satisfy the element of thought. General damages, consequential damages, reliance damages, and specific performance are all possible compensation for contract breaches.
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