California Exam 03 Questions And Answers 100% Solved(Rated A+)
Agency is referred to as the relationship between the agent and his principal. All of the following statements are correct about agency, except that: A agency may be an expressed contract. B the principal must pay money to the agent to create an agency relationship. C agency may be an implied contract. D the agreement may be in writing or oral - ANSWERSthe principal must pay money to the agent to create an agency relationship. Which of the following is closest to the same relationship as between a broker and seller? A Trustee and beneficiary B Broker and salesperson C Mortgagor and mortgagee D Vendor and vendee - ANSWERSTrustee and beneficiary An agency relationship is said to create a fiduciary relationship between principal and agent. Of the following relationships, which illustrates a fiduciary responsibility? A Any trustee to a beneficiary B Real estate broker to his client C Both (a) and (b) D Neither (a) nor (b) - ANSWERSBoth (a) and (b)
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