Law Of Agency Flashcards
Which of the following statements is false with respect in regards to an agent
Because the agent represents a party to a contract of buying the principal and the agent he also has to have the capacity to the contract on his own behalf
We are principle of an agent has acted in such a manner as to lead a third-party to believe that his agent has authority to perform service act on his behalf and the third-party deals with an agent in Bonifay belief that the agent has the authority that he represents the agent is said to have
Apparent
Paul grants Luke his agent expressed authority to list his house but has not explicitly grant the right to show to potential buyers.if Luke shows the house to the potential buyer she would likely act on him
Implied
Which one of the following types of authority would not provide an agent with significant authority to create a binding contract between his principal and third party
Assumed
Which of the following events will terminate a real estate agency relationship
An act of a principal which is inconsistent with the continuation of agent authorities
Which of the following regarding the necessity of the Written service agree with his true
The rules of a real estate Service act set out the minimum information that must be included in a written service agreement
We often talk about the duties of an agent to the principal however at common law, what duty oh by the press forward to his agent
Duty to indemnify the agent for the expenses which the agent me and care during transactions
Which of the following is not a fiduciary duty that an agent owes his principal
The duty to indemnify principal
When a licensee has complied strictly with the disclosure requirements of the real estate service act when purchasing property
Common law may still require further disclosure
We’re an agent was authority enters into a contract with a third-party and does not disclose that he is acting as an agent
The third-party may sue either the agent or the principal to enforce the contract.
Unrepresented party is
Not a client of a any licensee in a particular real estate transaction
Which one of the following is not one of the three key purposes of section 51.1 disclosure of Risk to Unrepresentative Parties
To inform the client of the license he is also providing trading services to the unrepresented party
Which of the following statements regarding the licensee remunerations comply with rules
A licensee may pay communication to a person who abide real estate services in the sale of the property in BC provide that the person is licensed to revive equivalent real estate services in another jurisdiction
What a listing contract has expired in a listed property is later sold to a purchaser who was first introduced the property by the listing brokers during the listing. Brokerage will
The tile to commission where the vendor and purchase or have conspired to sell after the expiry of the listing to avoid commissions
With regards to licensee purchasing property from self which of the following statements false
Disclosure can be made within a service agreement or any other agreement that affects to the trading real estate
