First of all, you should always read what you sign. You cannot get off easily by saying you didn't know what you were signing.
Lucky for you, the broker has agreed to terminate the contract and has told you to "tear it." An agreement in writing must be terminated in writing. Ask the broker, in a written letter, to give you a written termination since he has agreed verbally to terminate the agreement.
Answered on Aug 27th, 2015 at 5:20 PM