Law of agency champions - Study guides, Class notes & Summaries

Law of Agency Champions Exam Latest Updated

Protection against damage or loss Indemnification relationship, meaning that it is a relationship based on trust. Fiduciary A relationship between two parties Agency A person who receives limited brokerage services without establishing an agency relationship Customer Also known as the principal Client makes it illegal to practice any act of real estate brokerage without a license. Texas Real Estate License Act (TRELA) acts for or on behalf of ano...

Champions School Of Real Estate Law Of Agency Chapter Quiz Latest Version An agency relationship exists when one person, the ______________ acts for, or on the behalf of another person, the _____________________. - CORRECT ANS - Agent, principal Which of the following is ground for suspension or revocation of license by TREC? - CORRECT ANS - Splitting commission with a person other than a license holder The commission can deny licensure to an applicant based on the applicants? - COR...

Champions Law of Agency Exam (60 Questions) With Complete Solution A Grade

champions school of real estate law of agency chapter quiz with correct answers

Which of the following has the authority to suspend or revoke a Texas real estate license? - correct answer TREC Which of the following is an element of a listing agreement? - correct answer the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which of the following a violation of independent contractor status? - correct answer salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing fees paid by the br...

Protection against damage or loss - Answer- Indemnification relationship, meaning that it is a relationship based on trust. - Answer- Fiduciary A relationship between two parties - Answer- Agency A person who receives limited brokerage services without establishing an agency relationship - Answer- Customer Also known as the principal - Answer- Client makes it illegal to practice any act of real estate brokerage without a license. - Answer- Texas Real Estate License Act (TRELA) ...

champions school of real estate law of agency chapter quiz Questions and Correct Answers 2024 An agency relationship exists when one person, the ______________ acts for, or on the behalf of another person, the _____________________. - Answer -Agent, principal Which of the following is ground for suspension or revocation of license by TREC? - Answer -Splitting commission with a person other than a license holder The commission can deny licensure to an applicant based on the applicants? - A...

An agency relationship exists when one person, the ______________ acts for, or on the behalf of another person, the _____________________. Agent, principal Which of the following is ground for suspension or revocation of license by TREC? Splitting commission with a person other than a license holder The commission can deny licensure to an applicant based on the applicants? Moral character What form must an agent provide to a potential client at the first substantive discu...

Texas Promulgated Contracts-CHAMPIONS STUDY 2022-2023. The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) Bilatera...