Final answer:
Brokers typically use both 2 expressed and 3 written contracts in their operations.
4) both 2 and 3 are correct
Step-by-step explanation:
An expressed contract involves terms and conditions explicitly stated and agreed upon by the involved parties, ensuring clarity and mutual understanding. These terms can be verbal or written but are usually documented for legal purposes, providing a tangible reference point for all involved parties. Additionally, written contracts offer a formalized record of the agreement, reducing the risk of misinterpretation or disputes later on. Therefore, brokers commonly rely on both expressed and written contracts to conduct their transactions efficiently and securely.
Expressed contracts can be verbal or written, outlining the agreed-upon terms, while written contracts offer a documented record of the agreement. Brokers frequently employ both these contract types to ensure clarity, mitigate misunderstandings, and establish a legal foundation for their dealings.
The use of these contracts helps streamline operations and provides a secure framework for transactions. Consequently, brokers primarily rely on both expressed and written contracts to conduct their business effectively, prioritizing clear communication and legal accountability.