Agency & LawCâu 46 / 120
A broker holds earnest money as escrow agent. If a dispute arises between buyer and seller over who is entitled to the funds, the broker should generally:
a.Release the funds to whichever party asks first
b.Keep the funds as a fee for the trouble
c.Automatically give the funds to the seller
d.Hold the funds until the parties agree in writing or a court directs disbursement
Giải thích
An escrow agent holding disputed funds must not favor either side and should retain the money until the parties provide written agreement or a court orders disbursement. Improperly releasing disputed earnest money can create liability for the broker.
Luyện miễn phí toàn bộ 120 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Which of the following actions by an agent would MOST likely breach the fiduciary duty of loyalty?
- An agent must present to the seller:
- 'Puffing' differs from misrepresentation because puffing:
- A single agent who represents the buyer in a transaction owes the buyer the duty to:
- An agency relationship between a broker and client is typically created by:
- If a listing broker fails to disclose to their seller-client a material fact that harms the seller, the broker may be liable for:
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