Ch 6 REAL Test

Question 1

Link

Answer 1

https://quizlet.com/576220313/real-estate-law-midterm-study-flash-cards/

Question 2

Link x2

Answer 2

https: //quizlet.com/36763399/real-estate-law-flash-cards/
https: //quizlet.com/4000035/ca-re-law-flash-cards/

Question 3

When is a principal prevented from unilaterally terminating an agency?

Answer 3

In the event of an agency coupled with an interest

Question 4

An agent announces that she is terminating the agency relationship unilaterally, without the principal’s consent. This ends the agency through:

Answer 4

renunciation

Question 5

A broker delegates authority to another broker to assist in fulfilling his agency duties.
the other broker =

Answer 5

ostensible agent

Question 6

If you are a subagent of the listing broker, you are working for the:

a. buyer
b. seller
c. listing broker
d. lender

Answer 6

b. seller

“Subagent” means a person to whom an agent delegates agency powers. However, “subagent” does not include an associate licensee who is acting under the supervision of an agent in a real property transaction.

The marketing of real property by real estate agents is often a cooperative effort. The listing broker usually makes an offer of compensation to a cooperating broker (subagent) by placing the property on the Multiple Listing Service. Some MLS’s make the offer of subagency automatic, while for other, the offer of subagency is optional and requires an affirmative act by the listing broker. If the principal (seller) specifically authorizes his or her broker to appoint a subagent and thus establishes a new contractual and fiduciary relationship, the subagent represents the principal in the same manner as the listing broker.

Question 7

Which of the following statements about dual agency is false?
A. The dual agent may not disclose confidential information from one part tot he other
B. The dual agent may reveal to the seller the maximum the buyer is willing to pay.
C. The dual agent must have the written consent of both parties
D. Each party must be informed he will not receive full representation

Answer 7

B. A dual agent may not disclose confidential information from one party to the other party, such as the seller’s bottom line or how much the buyer is willing to pay.

Question 8

A principal has not authorized an agent to act, but misleads a third party into believing that the agent has been authorized to act on the principal’s behalf. This creates an agency by:

Answer 8

An agency by estoppel is created if a principal’s act or behavior mislead a third party into believing that an agency has been authorized.

Question 9

A principal is responsible for the actions of a subagent only if the subagent:

Answer 9

was lawfully appointed