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Champions Real Estate Exam Law of Agency solution A+ GUARANTED

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Champions Real Estate Exam Law of Agency solution A+ GUARANTED This person hires an agent - CORRECT ANS - The Principal The agent works on behalf of this person - CORRECT ANS - the client (principal) This type of agency allows for the greatest range of authority - CORRECT ANS - Universal This is provided to the agent when there is written documentation that the agency relationship exists. - CORRECT ANS - Express authority This is the most limited of all the agency relationships - CORRECT ANS - Special agency This type of agency is created when a 3rd party believes that an agent has authority that has NOT been granted by a principal - CORRECT ANS - Agency by Estoppel This type of agency is created when actions lead another person to assume that one is an agent (Example- you have a key to neighbors home and show the property) - CORRECT ANS - Ostensible Agency

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