Question
A property owner listed her property for sale. She provided the agent with authority to sell the property on her behalf if the terms of
A property owner listed her property for sale. She provided the agent with authority to sell the property on her behalf if the terms of any offer received met the terms set out in the listing agreement. A prospective buyer inspected the property during the period of time that the property was listed for sale, but did not make an offer to purchase. After the agency agreement had expired, the prospective buyer made an offer to purchase the property that corresponded with the terms of the listing agreement. The agent accepted the offer on behalf of the property owner. When the buyer discovered that the agency agreement had expired, he brought an action against the agent. Explain the nature of the buyer's action and indicate how the case may be decided. Could the property owner ratify the agreement? What factors would affect the ratification?
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