Nichols is the principal owner of Samuel Nichols, Inc., a real estate firm. Nichols signed...
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Nichols is the principal owner of Samuel Nichols, Inc., a real estate firm. Nichols signed an exclusive brokerage agreement with Molway to find a purchaser for Molways property within ninety days. This type of agreement entitles the broker to a commission if the property is sold to any purchaser to whom it is shown during the ninety-day period. Molway tried to cancel the brokerage agreement before the ninety-day term had expired. Nichols had already advertised the property, put up a for sale sign, and shown the property to prospective buyers. Molway claimed that the brokerage contract was unilateral and that she could cancel at any time before Nichols found a buyer. Nichols claimed that the contract was bilateral and that Molways cancellation breached the contract. Discuss who should prevail at trial. What is the difference between a bilateral and unilateral contract?
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