The following examples are given as typical selling contracts:
1. A contract under which the agent undertakes to sell certain described property, such as lots, at an average price per lot, and to remit periodically to the owner a certain portion of the cash receipts. All that the agent obtains above the average price is his profit, with or without the addition of any payments on cancelled contracts. In the final settlement, he is obliged to pay only for such lots as the owner may convey to purchasers. An example of this class of contract is given in Section 200.
2. Contracts under which a number of lots, or similar property, are placed in the hands of the agent, the lots having varying prices specified in the agreement, but the other conditions being similar to those of the first class.
3. Contracts under which the owner gives the agent sole selling rights to property at a fixed price per acre, or other unit of value, the agent undertaking all expense of developing, improving, advertising, selling, demonstrating, etc. In such cases the selling price is fixed in various ways; sometimes it is left to the agent, or a minimum price is stipulated. The method of paying the owner is set forth in the contract, and there is occasionally a further agreement that, after the owner has received the price per unit agreed upon, and after all the expenses of developing, etc., mentioned above, have been repaid to the agent, the net profits (if any), or the net profits above a named amount, are to be divided between the owner and the agent on the basis prescribed by the contract. An example of this kind of contract is found in Section 204.