Producers and general rules of agency

Question 1

When someone acts as an escrow agent, title agent or title producer what type of relationship is created?

Answer 1

An agency relationship is created between the title agent and the underwriter and a fiduciary responsibility begins

Question 2

Express power of agency is

Answer 2

written into a contract

Question 3

Apparent powers of agency are

Answer 3

reasonably assumed by a third party

Question 4

Implied powers of agency are

Answer 4

powers that are technically beyond words of the contract but are reasonably necessary to carry out the express powers and to which the principal has failed or neglected to protest