Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

brokerage contract

Read a random definition: public commissioner

A quick definition of brokerage contract:

A brokerage contract is an agreement between a person (called the principal) and a broker. The broker is hired to make deals on behalf of the principal and gets paid a commission for their services. It's like hiring someone to help you buy or sell something, and they get a percentage of the sale as payment.

A more thorough explanation:

A brokerage contract is an agreement between a principal and a broker, where the broker is authorized to make contracts on behalf of the principal. The broker receives a commission for their services.

For example, if a homeowner wants to sell their house, they may sign a brokerage contract with a real estate agent. The agent will then market the property, find potential buyers, and negotiate the sale on behalf of the homeowner. Once the sale is complete, the agent will receive a commission based on the sale price.

Another example is a stockbroker who is hired by an investor to buy and sell stocks on their behalf. The investor signs a brokerage contract with the broker, who then executes trades based on the investor's instructions. The broker receives a commission for each trade made.

These examples illustrate how a brokerage contract allows a principal to delegate the authority to make contracts to a broker, who acts as their agent. The broker is compensated for their services through a commission, which is typically a percentage of the transaction value.

brokerage | broker-agent

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
LSD+ is ad-free, with DMs, discounts, case briefs & more.