Agency by ratification Study guides, Revision notes & Summaries

California Real Estate Exam: Questions & Answers Latest Update 2023/2024 100% Verified. Reed vs. King Case (Ans- Must disclose death (and manner of death) on a property if occurs within 3 years, except AIDS Jones vs. Mayer Supreme Court Decision (1968) (Ans- Racial discrimination not allowed (whether selling or buying) in all PRIVATE property transactions (based on Civil Rights Act of 1968) Easton vs Strassburgar (Ans- Seller disclosures to third parties AND agent visual inspection of all...

Agency - An agency is created when a person or company (an agent) agrees to act for or in place of another person or company (the principal) Parties in an Agency - -The principal creates authority in an agent -The agent receives authority and carries out the principal's instructions -Third parties make contract or are involved in torts with the agents Disclosed Principal - Identity of principal is known by the third party at time of making of contract with agent Undisclosed Principal - Id...

Funeral Arts National Board Exam, Answered-Register of all the general ledger accounts - Will Show profits and losses of a business Difference between currents assets and liabilities. When current assets exceed liabilities - Working Capital Must include what three disclosures - Embalming, Cash Advance, & Legal Requirements Uniform commercial code has 4 different kinds of paper - Promissory Note, Draft, Checks and certificates of deposit What kind of law enacts statutory law - Adminis...

GA MLS Real Estate Practical Final Exam Questions With Answers 2023 Solution Safety Clause - CORRECT ANS -A negotiated period after the termination of the listing during which the listing broker may still be entitled to a commission if the property is sold to a buyer who was shown the property during the listing period Survival Clause - CORRECT ANS -A clause in the contract for purchase and sale that, unless otherwise expressly agreed to in writing by the buyer and seller, allows certai...

In-depth yet succinct revision notes of topics from all Commercial Law Lectures, comprising all relevant cases (key facts, decisions, rules) and relevant statutes, as well as some reference to journal articles and other secondary sources. Can be used for exam revision (multiple choice and/or problem/essay questions) as it contains sufficient information needed, or to accompany your coursework research for various topics in Commercial Law. (Please excuse any typos) Contents: Formation of A...

Champions School of Real Estate - Exam Prep Latest Update 100% Pass Buyer Representation Agreement An employment contract obligating a broker to act as a fiduciary to a buyer Implied Agency Agency as a result of customary, usual or typical conditions Broker A properly licensed party who serves a principal in an agency relationship- also called an agent Client A party represented by a broker in an agency relationship - also called a principal Duties of an Agent An agent owes his...

Ratification, Estoppel, agreement are all correct An agency relationship may be created by: correct answer: Ratification, Estoppel, agreement are all correct Failure to perform any of the terms or conditions of a contract is called correct answer: Breach A licensed real estate broker is successful in securing a buyer for a property who is ready, willing, and able to buy. The offer is accepted and signed by both parties and escrow is opened. During the escrow period, the TITLE compan...

Champions School of Real Estate - Exam Prep With Correct Solutions Graded A+ Buyer Representation Agreement An employment contract obligating a broker to act as a fiduciary to a buyer Implied Agency Agency as a result of customary, usual or typical conditions Broker A properly licensed party who serves a principal in an agency relationship- also called an agent Client A party represented by a broker in an agency relationship - also called a principal Duties of an Agent ...

Champions School of Real Estate - Exam Prep Buyer Representation Agreement An employment contract obligating a broker to act as a fiduciary to a buyer Implied Agency Agency as a result of customary, usual or typical conditions Broker A properly licensed party who serves a principal in an agency relationship- also called an agent Client A party represented by a broker in an agency relationship - also called a principal Duties of an Agent An agent owes his client obedienc...

In which year did the National Association of REALTORS® create the Code of Ethics for the real estate industry? - Answer- 1913 In the relationship with a buyer or a seller, a real estate agent is usually a: General agent Universal agent Primary agent Special agent - Answer- Special agent The _________ makes all decisions and signs all documents. The agent cannot bind the principal - Answer- Principle The only requirement for the formation of an agency relationship is: The cons...