CHAPTER 4-1

Question 1

A RELATIONSHIP OF TRUST AND CONFIDENCE BETWEEN THE AGENT AND PRINCIPAL/CLIENT

Answer 1

FIDUCIARY

Question 2

EXAGGERATED COMMENTS ABOUT A PROPERTY

Answer 2

PUFFING

Question 3

AN AGENT WHO IS AUTHORIZED TO PERFORM A SINGLE ACT OR ASSIST IN A SINGLE TRANSACTION FOR THE PRINCIPLE

Answer 3

SPECIAL AGENT

Question 4

CLIENT

Answer 4

PRINCIPAL

Question 5

AN INTERMEDIARY BETWEEN A BUYER AND SELLER WHO ASSIST BOTH PARTIES WITH A TRANSACTION, BUT WHO REPRESENTS NEITHER

Answer 5

NONAGENT

Question 6

AN AGENT AUTHORIZED TO REPRESENT THE PRINCIPAL IN A BROAD RANGE OF MATTERS RELATED TO A SPECIFIC BUSINESS OR ACTIVITY

Answer 6

GENRAL AGENT

Question 7

THE ESTABLISHMENT OF AN AGENCY RELATIONSHIP AS THE RESULT OF THE ACTIONS OF THE PARTIES THAT INDICATE MUTUAL CONSENT

Answer 7

IMPLIED AGENCY

Question 8

THE BASIC FRAMEWORK THAT GOVERNS THE LEGAL RESPONSIBILITIES OF AN AGENT TO THE PRINCIPAL

Answer 8

LAW OF AGENCY

Question 9

A HIDDEN STRUCTURAL PROBLEM THAT WOULD NOT BE DISCOVERED BY ORDINARY INSPECTION

Answer 9

LATENT DEFECT