exclusive right of sale

exclusive right of sale
The right of an agent to be the sole sale's agent appointed by his principal and to be free from competition by the principal personally. 3 Am J2d Ag § 259. Not the same exactly as an exclusive agency. An exclusive agency to sell having been granted to a broker, the owner may still sell the property without incurring liability to the broker for a commission, unless the broker has procured a purchaser able and willing to pay prior to the time that the owner makes the sale. But where a broker is given an exclusive right to sell property, as distinguished from an exclusive agency, he is held entitled to the agreed commission, or at least damages, where a sale is made by the owner, and it is immaterial that he was not the procuring cause thereof, provided, however, that the employment contract is supported by consideration and is not a mere unilateral offer, and provided also, according to some cases, that the broker has produced a ready, able, and willing purchaser or can show damage. 12 Am J2d Brok § 226.

Ballentine's law dictionary. . 1998.

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  • exclusive right — A sole and undivided right or privilege. Vicksburg v Vicksburg Waterworks Co. 202 US 453, 471, 50 L Ed 1102, 1112, 26 S Ct 660. See exclusive right of sale …   Ballentine's law dictionary

  • exclusive right to sell — An exclusive right to sell agreement listing real property for sale prohibits the owner from selling his property either by himself or through another broker without liability while the property is listed with the original broker. Foltz v.… …   Black's law dictionary

  • exclusive right to sell — An exclusive right to sell agreement listing real property for sale prohibits the owner from selling his property either by himself or through another broker without liability while the property is listed with the original broker. Foltz v.… …   Black's law dictionary

  • exclusive agency — A term embracing three classes of situations: (1) where the contract does not prevent the principal from making direct sales but deprives him of the right to appoint other agents; (2) where the agent is the only one with any right to sell; and… …   Ballentine's law dictionary

  • exclusive sale — See exclusive agency; exclusive right of sale …   Ballentine's law dictionary

  • exclusive sales contract — A contract by which a manufacturer or wholesale dealer agrees to sell his commodities exclusively to a dealer in a particular locality, or the dealer agrees to purchase exclusively from the manufacturer or wholesaler. Such a contract is valid… …   Ballentine's law dictionary

  • exclusive — [eks klo͞o′siv, iksklo͞o′siv] adj. [ML exclusivus < L exclusus, pp. of excludere: see EXCLUDE] 1. excluding or tending to exclude all others; shutting out other considerations, happenings, existences, etc. [an exclusive interest in sports] 2.… …   English World dictionary

  • right — / rīt/ n [Old English riht, from riht righteous] 1 a: qualities (as adherence to duty or obedience to lawful authority) that together constitute the ideal of moral propriety or merit moral approval b: something that is morally just able to… …   Law dictionary

  • exclusive agency listing — Agreement between a property owner and a real estate broker whereby the owner promises to pay a fee or commission to broker if his real property is sold during the listing period, regardless of whether the broker is responsible for the sale.… …   Black's law dictionary

  • exclusive agency listing — Agreement between a property owner and a real estate broker whereby the owner promises to pay a fee or commission to broker if his real property is sold during the listing period, regardless of whether the broker is responsible for the sale.… …   Black's law dictionary

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