exclusive agency

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 (3) where the exclusive agency is accompanied with a stipulated right to commissions on all sales whether made through the agent or not. 3 Am J2d Ag § 259. The use of the terms "exclusive agency," or "exclusive sale" in a contract giving one the right to sell for another is not conclusive that the right given is an exclusive one, but all the circumstances must be considered. Navy Gas & Supply Co. v Schoech, 105 Colo 374, 98 P2d 860, 126 ALR 1225. An exclusive agency to sell having been granted, the owner may still sell the property without incurring liability to the broker for commission, unless the broker has procured a purchaser able and willing to buy prior to the time that the owner makes the sale. Anno: 64 ALR 395; 12 Am J2d Brok § 226. See exclusive right of sale.

Ballentine's law dictionary. . 1998.

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  • exclusive — ex·clu·sive adj 1 a: excluding or having power to exclude others exclusive right to their respective writings and discoveries U.S. Constitution art. I b: being independent from or not shared by others: sole …   Law dictionary

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