Ostensible authority - Study guides, Class notes & Summaries

This person hires an agent - Answer-The Principal The agent works on behalf of this person - Answer-the client (principal) This type of agency allows for the greatest range of authority - Answer-Universal This is provided to the agent when there is written documentation that the agency relationship exists. - Answer-Express authority This is the most limited of all the agency relationships - Answer-Special agency This type of agency is created when a 3rd party believes that an agent has aut...

Which of the following has the authority to suspend or revoke a Texas real estate license? - Answer- TREC Which of the following is an element of a listing agreement? - 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? - Answer- salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing fees paid by the broker the TAR buyer repre...

When a client decides to end an agency relationship, it is called ____. a. revocation b. renunciation c. deuces d. mutual rescission - ANSWERSa. revocation What is required for an agency relationship to form? - ANSWERSconsent of an agent and the principal Which of the following BEST describes what happens when Broker Bob signs a listing agreement with Seller Sally? - ANSWERSA fiduciary relationship is formed A broker who enters into a Listing Agreement with a seller is considered ...

ACEABLE AGENT – FINANCE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ TEXAS REAL ESTATE LICENSE ACT (TRELA) 1939 - -Who was the first legislation created to govern the real estate profession in Texas? TEXAS REAL ESTATE COMMISSION (TREC) 1949 - -Which commission was created to enforce TRELA (it's main purpose)? Also regulates educational and licensing programs that maintain standards AND interprets legislation that effects the real estate profession, but these are not it's main func...

This person hires an agent - Answer- The Principal The agent works on behalf of this person - Answer- the client (principal) This type of agency allows for the greatest range of authority - Answer- Universal This is provided to the agent when there is written documentation that the agency relationship exists. - Answer- Express authority This is the most limited of all the agency relationships - Answer- Special agency This type of agency is created when a 3rd party believes that an...

____ account provides funds to cover the potential liabilities incurred as a result of the forfeiture of bonds. - A BUF ____ refers to a security given by a defendant who wants to bring a writ of error on a judgment and that a stay of execution is preferred in the meantime. - Bail in error _____ describes the return of the defendant to the custody of the sheriff following either bail revocation or forfeiture. - Recommitment _____ is a process by which a defendant who failed to show up in c...

CPMSM Cards, CPMSM Study (MCO), CPMSMBoyd vS Albert Einstein - correct answer Doctrine of Ostensible Agency - HMO found liable in patient's death. Chest perforation during breast biopsy, chest pain/MI six weeks later. Elam vS CollegePark - correct answer Doctrine of Corporate Negligence - Med Records had information on many lawsuits agains podiatrist Patrick vs Burget - correct answer Anticompetitive Peer Review - Led to development of HCQIA Gonzales vs Nork & Mercy Hospital - correct ...

Latest Real Estate Exam: Law of Agency FINAL REVIEW [100% PASS] /verified/ This person hires an agent *Ans* The Principal The agent works on behalf of this person *Ans* the client (principal) This type of agency allows for the greatest range of authority *Ans* Universal This is provided to the agent when there is written documentation that the agency relationship exists. *Ans* Express authority This is the most limited of all the agency relationships *Ans* Special agency This type of ag...

Aceable Agent - Finance Questions And Answers TEXAS REAL ESTATE LICENSE ACT (TRELA) 1939 - ANS Who was the first legislation created to govern the real estate profession in Texas? TEXAS REAL ESTATE COMMISSION (TREC) 1949 - ANS Which commission was created to enforce TRELA (it's main purpose)? Also regulates educational and licensing programs that maintain standards AND interprets legislation that effects the real estate profession, but these are not it's main function. 1. INSPECT...

There are three main areas within this subject: Listing of real property Sales contracts Marketing - ANSWERThere are three main areas within this subject: Listing of real property Sales contracts Marketing Real Estate Practices describes government regulation of brokerage transactions, the operations of the Department of Real Estate, types of real estate licenses, requirements for obtaining broker and salesperson licenses, continuing education requirements, and, violations of real e...