Basic Agency Relationships, Disclosure, and Duties to the Client Flashcards
1
Q
A principal becomes disabled and gives authority to an agent to act on behalf of the principal in nearly all circumstances. This type of agent is…
A
A universal agent.
2
Q
The principal may not owe compensation to the agent, if:
A
The agent was negligent and caused damages to the principal.
3
Q
According to Sect 1101.558 of TRELA, which of the following parties must be provided with a disclosure about brokerage services when the first instance of contact occurs?
A
- Another party to the transaction
- Another licensee who represents another party to the transaction
