90. Liz listed her property with an agreement end date of May 31. The property went under contract on May 12, and the buyer's earnest money was deposited on May 13. Based on the home inspection results, the buyer legally terminated the contract on May 20. When did the listing agreement between Liz and the listing broker officially terminate?
Answer: D
The listing agreement between Liz and the listing broker officially terminated on May 31.
The listing agreement is set to expire on May 31, which is the end date specified in the contract. Even though the buyer terminated the contract on May 20, the listing agreement remains in effect until its designated end date.
A) 12-May
This date is when the property went under contract, but it does not relate to the termination of the listing agreement. The listing agreement continues until the specified end date of May 31, regardless of the contract status with the buyer.
B) 13-May
While this date marks the day the buyer deposited earnest money, it does not affect the listing agreement's duration. The agreement remains valid until its end date, which is May 31.
C) 20-May
This date corresponds to when the buyer legally terminated the contract after the home inspection. However, this action does not impact the listing agreement's termination, which is still set for May 31.
D) 31-May
This is the correct answer as it reflects the official end date of the listing agreement. The agreement remains active until this date, despite any changes in the status of the sale.
Conclusion
The correct answer is May 31, as it is the official end date of the listing agreement between Liz and the broker. All other options reflect events that do not influence the termination of the listing agreement, which is solely determined by the date specified in the contract. Thus, the agreement remains valid until its contractual expiration.