California Exam 01 Questions & Answers (rated A+)
Fiduciary applies to the relationships between people in many different positions. It does not apply to which of the following? ATrustor to beneficiary BAttorney-in-fact to principal CAttorney to client DAgent to seller - ANSWERTrustor to beneficiary Fiduciary is an agency relationship. Trustor to beneficiary is borrower to lender. A fiduciary relationship may be terminated by: Aagreement. Brevocation. Cdeath. Dall of the above. - ANSWERall of the above. What event does not terminate (or dissolve)an agency? ADeath of listing agent (not broker) BFull performance CExpiration of term DDestruction of listed property - ANSWERDeath of listing agent (not broker) Since the broker owns the listing, only the death of the listing broker, not the listing agent, would terminate the listing. In order to record a lease, the document must be acknowledged before a proper official by the: Apublic administrator. Bnotary public. Clessee. Dlessor. - ANSWERlessor. The Statute of Frauds requires that all of the following contracts must be a record in writing to be enforceable except a(n): Aagreement allowing a broker to sell real estate for compensation.
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