Law of Agency - Champions (All accurate)

The principal is also known as correct answers client fiduciary relationship correct answers a relationship founded on trust and confidence Agency Relationship correct answers Exists when one person (the agent) acts for, or on behalf of another person (the principal). the principal correct...

This person hires an agent correct answers The Principal The agent works on behalf of this person correct answers the client (principal) This type of agency allows for the greatest range of authority correct answers Universal This is provided to the agent when there is written documentation...

Which of the following has the authority to suspend or revoke a Texas real estate license? correct answers TREC Which of the following is an element of a listing agreement? correct answers the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which...

A FIDUCIARY RELATIONSHIP correct answers A RELATIONSHIP WHERE THE AGENT ACTS ON BEHALF OF THE CLIENT A COOPERATIVE BROKER correct answers SELLS THE LISTING OF ANOTHER BROKER UNSCRUPULOUS LICENSE HOLDERS correct answers THE TEXAS REAL ESTATE COMMISSION'S MAIN PURPOSE IS TO PROTECT THE PUBLIC ...

Fiduciary correct answers A relationship based on trust Agency correct answers A relationship between two parties Customer correct answers A person who receives limited brokerage services without establishing an agency relationship/Also known as 3rd party. Client correct answers Also known ...

Which of the following has the authority to suspend or revoke a Texas real estate license? correct answers TREC Which of the following is an element of a listing agreement? correct answers the agreement to pay a stated commission, usually a percentage of the sales price The seller must: correc...

Broker correct answers A Properly Licensed party who serves a principal in an agency relationship Agency correct answers A fiduciary relationship between a broker and a principal or a broker and a client Fiduciary correct answers A Party acting for another in a position of trust-a broker or ag...

fiduicary correct answers Act for or on behalf of another person Indemnification correct answers protection against damage or loss agent correct answers based on trust Customer correct answers A person who receives limited brokerage services without establishing an agency relationship Cl...

Customer correct answers A person who received limited brokerage services without establishing an agency relationship Agency correct answers A relationship between two parties Texas Real Estate License Act (TRELA) correct answers Makes it illegal to practice any act of real estate brokerage wi...

Protection against damage or loss correct answers Indemnification relationship, meaning that it is a relationship based on trust. correct answers Fiduciary A relationship between two parties correct answers Agency A person who receives limited brokerage services without establishing an age...

an exemption to using the IABS form correct answers a lease that is not more than 1 year when on person, the agent, acts for or on behalf of another person, the principal, aka the client, it is known as correct answers an agency relationship. if the prinicipal, client, is not cooperating with ...