Ch 6 CA Legal Aspects Disclosure/Agency Flashcards
What case set the precedent of RE agent to do visual inspection of the property and fill out the AVID form?
Which of the following court cases determined that an agent is only responsible for performing a diligent visual inspection…?
Jones vs. Mayer
Roe vs. Wade
Easton vs. Strassburger
Marbury vs. Madison
Easton vs Strassburger
What is intentional misrepresentation?
fraud
What does the AVID mean?
agency visual inspection disclosure form.
What is DEC form?
Disclosure the agency relationship - that I am an agent of ABC broker office.
Elect - I am the listing or buying agent
Confirm
what’s the difference between seller and selling agent?
Seller agent - aka listing agent representing the seller.
Selling agent - aka buyer agent represents the buyer.
An agency relationship should be disclosed in which order…? Disclose, elect, confirm Elect, disclose, confirm Confirm, elect, disclose Elect, confirm, disclose
Disclose, elect, confirm
Who is responsible for completing the Transfer Disclosure Statement form…? AThe agent only BThe seller only CBoth the seller and agent DThe seller and the seller's attorney
The seller only
The statute of limitations for a breach of fiduciary duties is…? A1 year B2 years C3 years D4 years
4 years
Which of the following fiduciary duties demands that an agent work to the best of their abilities to achieve the goals of the principal…? AReasonable skill and care BLoyalty CDiligence DConfidentiality
Diligence
If a seller's agent is related to the buyer, but does not disclose this fact to the seller, they may be guilty of…? ADisclosed profit BDual agency CExpress dealing DSelf dealing
Self dealing
The statute of limitations for a negligent visual inspection is…? A1 year B2 years C3 years D4 years
2 years
The Seller’s Property Questionnaire is required by law…?
AT (True)
BF (False)
(False)
