7) In case studies, which party is the Foreign Office still in? (a) Sub-authority b) Intermediate c) Disclosure d) Non-Agency 9) When an agent enters into an agency agreement with a buyer, the agent becomes buyer_s agent, also known as brokerage – 8) In the oral decision, the licensee charged with an offence is still a party? 10) Mary has a list agreement with broker Tom. Mary tells Tom that she wants him to use real estate agents to sell their property. Tom picks up Larry, Gail and Bill, who work for other companies to find a buyer for Mary`s property. Who would be responsible for Bill`s actions? 7) In the case studies, which person and/or company against whom the complaint was filed is still going to be? 3) A licensee is required to disclose all personal interests he has on a property if he is dealing with a client, under what fiduciary duty? The different types of compensation schemes and the ability to define in practice what tariffs are due and which, in an agency relationship, do not offer agents flexibility to adapt their practice to customer preferences. As the real estate industry continues to develop new ways of responding to clients, brokers will increasingly be challenged to use both agency contracts and defined trust obligations to extend their practice beyond traditional agency agreements. To learn more about agreements, read what I wrote earlier about rental-housing contracts as well as pre-closing and post-closing agreements. 3) Which of the following options would be considered the benefit of a subcontracting agreement? X Ltd has two directors, Joe and Harry. None of the directors are authorized to enter into contracts on behalf of the company. In practice, Joe (with Harry`s agreement) enters into all contracts on behalf of the company. What type of agency was created when a third party acting in good faith enters into a contract with Joe who claims to be acting on behalf of X Ltd? Con appoints George to act as his agent for two weeks. George agrees to act without paying.
Con orders George to rent his tenants every Friday morning and pay the rent at the bank next door. The second week, George collects the rent, but he can`t be transferred. On the way back, he leaves him on the bus and is never picked up. Can Con sue George for violating his agency obligations? To learn how to terminate an agency, click here in our article. 11) In the 1970s, several boards of directors and associations of real estate companies were sued under the federal law on agreements and price agreements by questioning among the following points? As these questions suggest, agency law often concerns three parties – the client, the agent and a third party. These are therefore three different relationships: between the client and the agent, between the client and the third parties, as well as between the agent and the third party. These relationships can be summed up in a simple diagram (see Figure 25.1 “Agency Relations”). Let us analyze this sequence of events from a legal point of view, recognizing, of course, that this example is an analogy and that the law would not have any consequences for Alden on his inability to satisfy Captain Standish`s wishes. Alden was the captain`s agent: he was expressly authorized to speak on his behalf in an agreed manner, for a specific purpose, and he accepted the mission taking into account the captain`s friendship. However, he had a conflict of interest. He tried to execute the mission, but he did not meet expectations. Eventually he landed himself with the prize.
Here are some questions to consider, the same questions that come up during the discussion on agencies: In the areas of social necessity, the courts have declared an agency to exist if no agreement.