License Law & AgencyCâu 27 / 100
The fiduciary duties an agent owes a principal can be remembered by the acronym OLD CAR. The 'C' stands for:
a.Compensation
b.Contract
c.Compliance
d.Confidentiality
Giải thích
OLD CAR stands for Obedience, Loyalty, Disclosure, Confidentiality, Accountability, and Reasonable care. Confidentiality requires keeping the principal's private information secret, even after the relationship ends. These duties define the agent's fiduciary relationship with the principal.
Luyện miễn phí toàn bộ 100 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- The New York statute governing the licensing and conduct of real estate brokers and salespersons is:
- A New York real estate salesperson may lawfully collect a commission directly from:
- An agent's fiduciary duty of obedience requires the agent to:
- In New York, the agency disclosure form must generally be presented to a prospective buyer or seller:
- A dual agent in New York is a broker who:
- A designated sales agent arrangement in New York allows a supervising broker to:
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