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25 Cards in this Set
- Front
- Back
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Who does the Agent represent? the client or customer
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The Agent can represent the Client or the Customer or BOTH
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Fiduciary
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One who is in a postion of trust & loalty to the principal
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Principal/Client
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A person who appoints an agent to represent her
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Agency
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Occurs when one person hires another individual to act on his/her behalf.
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Fuduciary Responsibilities
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OLD CARDS: Obedience, Loyalty, full Disclosure, Confidentiality, accountability, reasonable care, due diligence skills Diligence, Skills
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General Agent
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Property Manager
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Property Mgr (General Agent)
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Someone authorized to handle all affairs of the principal concerning a certain property
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Special Agent/Real Estate Broker
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Someone who has narrow authorzation to act on the behalf of the principal
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Vicarious Liability
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One person is responsible or liable for the actons of another person.
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Express Agency
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An agency relationship created by an oral or written agreement bet. the principal and agent.
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Who does the Agent represent? the client or customer
|
The Agent can represent the Client or the Customer or BOTH
|
|
|
Fiduciary
|
One who is in a postion of trust & loalty to the principal
|
|
|
Principal/Client
|
A person who appoints an agent to represent her
|
|
|
Agency
|
Occurs when one person hires another individual to act on his/her behalf.
|
|
|
Fuduciary Responsibilities
|
OLD CARDS: Obedience, Loyalty, full Disclosure, Confidentiality, accountability, reasonable care, due diligence skills Diligence, Skills
|
|
|
General Agent
|
Property Manager
|
|
|
Property Mgr (General Agent)
|
Someone authorized to handle all affairs of the principal concerning a certain property
|
|
|
Special Agent/Real Estate Broker
|
Someone who has narrow authorzation to act on the behalf of the principal
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Vicarious Liability
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One person is responsible or liable for the actons of another person.
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Express Agency (Written listing agreement bet the seller of RE and the Broker)
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An agency relationship created by an oral or written agreement bet. the principal and agent.
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Implied Agency
(Ratificaation& Estoppel) |
The word or actions of the principal & Agent indicating that they have an agreement may create an agency relationship
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what are illegal restraints of trade
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Price fixing, Grp boycotts, Mkt allocation agreements.
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Price fixing
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ocurrs when competitors in a grp or an industry conspire to charge the same or similar prices for services
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Group boycotts
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is a conspiracy in which a person/gropu is persuaded or coerced into not doing bus. with another grp or person
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Market Allocation Agreement
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an agreement between competitors who are dividing or assigning a certain area or territory for sales ( agreement not to compete)
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