Chapter 2- Law Of Agency 1 Flashcards
1
Q
The person who selects the agent to act on his behalf is
A
Client or Principal
2
Q
The party that the agent brings to the principal is
A
The Customer
3
Q
The person hired on another’s behalf.
A
Agent
4
Q
A position of trust is called
A
fiduciary relationship
5
Q
Fiduciary duties include
A
Old car Obedience loyalty disclosure confidentiality accountability Responsible car
6
Q
An agent authorized to handle all affairs of principal is
A
A general agent
7
Q
An agent relationship created by an oral or written agreement btwn principal and agent is called
A
An express agency
8
Q
Agency disclosure forms must be presented when
A
First substantive meet.
9
Q
The best form of listing to take is
A
Exclusive right to sell
10
Q
True or false
An agency relationship is determined by the nature of payment or who pays it
A
..False
