Champion School Of Real Estate

CHAMPION SCHOOL OF REAL ESTATE LAW OF CONTRACTS STUDY GUIDE COMPREHENSIVE REVIEW WITH SOLVED QUESTIONS AND DETAILED ANSWERS

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Law of Agency - Answer A body of laws that govern the relationship between a principal and his/her agent. It defines the rights and duties of the parties in a real estate transaction. These laws are based on common law. Definition - Answer Agency is the relationship between a principal and an agent who acts for the principal within the specified authority granted by the principal. The principal is entitled to rely on the agent, who places the principal's interests above those o...

The practice of several brokers agreeing to all charge the same amount of commission is called a. allocation of clients b. good business c. boycotting d. price-fixing - Answer d. price-fixing Information About Brokerage Services must be given to potential buyers, sellers, tenants, and landlords at the: a. time of first meeting b. after the listing is taken c. at the closing d. first substantive dialogue about a property - Answer Wrong b. after the listing is ta...