Question 38

The broker may accept the offer.

Given the seller has granted the broker a limited power of attorney to accept any cash offer of $108,000 or more, the broker is authorized to accept the $110,000 offer without waiting for the seller's return.

A) may not accept until the seller returns

This option is incorrect because the broker has been given the authority to accept offers within the specified range. The seller's physical presence is not required for the broker to act within the limits of the power of attorney.

B) must forward the offer to the seller’s attorney

While forwarding the offer to the seller’s attorney might be a prudent action, it is not a requirement under the given power of attorney. The broker is empowered to accept the offer directly, making this option incorrect.

C) may accept the offer

This option is correct because the broker has been explicitly granted the authority to accept cash offers that are equal to or greater than $108,000. Since the offer of $110,000 meets this criterion, the broker can accept it without further consultation with the seller.

D) may sign a deed if the seller does not return

This option is incorrect as the broker's limited power of attorney does not extend to signing a deed. The authority granted is specifically for accepting offers and does not encompass property transfer actions without the seller's consent.

Conclusion

The broker's ability to accept the $110,000 offer stems directly from the limited power of attorney granted by the seller, which allows for acceptance of offers equal to or greater than $108,000. All other options fail either because they misinterpret the scope of the broker’s authority or incorrectly assume the necessity of the seller's involvement in the process. Thus, option C is definitively the correct choice.