Agency & LawPregunta 25 de 120
In an agency relationship, the client who hires and authorizes a broker to act on their behalf is the:
a.Agent
b.Principal
c.Customer
d.Subagent
Explicación
The principal (client) is the party who employs and delegates authority to the agent. The agent owes fiduciary duties to the principal, while a customer is a party the agent deals with but does not represent.
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Preguntas relacionadas de este tema
- A broker who represents the seller in a transaction owes the seller fiduciary duties. The customer (buyer) in that same transaction is owed:
- Which of the following is NOT one of the traditional fiduciary duties an agent owes to a principal?
- In Texas, before a license holder may substantively discuss a real estate transaction, TREC rules generally require providing the consumer with the:
- An 'intermediary' relationship in Texas arises when:
- For a Texas broker to act as an intermediary between a buyer and seller, the broker must obtain:
- When a broker acts as an intermediary and appoints one associated agent to the buyer and another to the seller, this is commonly called:
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