Ostensible authority - Study guides, Class notes & Summaries

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

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

Real Estate Exam: Law of Agency [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 agency is created whe...

The principal is also known as - Answer-client fiduciary relationship - Answer-a relationship founded on trust and confidence Agency Relationship - Answer-Exists when one person (the agent) acts for, or on behalf of another person (the principal). the principal - Answer-is the one who hires and gives authority to the agent Texas Real Estate License Act TRELA - Answer-Was passed 1939. The purpose is to protect the public against unscrupulous brokers and sales agents. Texas Real Estate Comm...

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

Agency by actual authority - ANSWERSrefers to actions an agent has been authorized to complete on behalf of a principal Agency by estoppel - ANSWERSAgency that is imposed by law when it is determined that ostensible agency existed Agency by ratification - ANSWERSAn unauthorized action taken on behalf of a principal which is accepted and legitimized after the fact by the principal Arbitration - ANSWERSA forum where parties and counsel present their positions before an impartial third par...

GOLD COAST REAL ESTATE EXAM One type of a residential sales transaction involves the sale of any improved residential property of (________) units or less Four The term __________ is registered trademark of the National Association of Realtors and may be used only by members of the organization Realtor Most real estate licensees are involved in ______________ brokerage Residential An estimate of the value of property developed by a real estate licensee for use in listing or se...

CPCS Exam 2023 Questions and Answers Rated A+ TJC (The Joint Commission) Definition of Credentialing The process of obtaining, verifying, and assessing the qualifications of a health care practitioner who seeks to provide patient care services in or for a hospital. NCQA (National Committee for Quality Assurance) definition of credentialing process by which an organization reviews and evaluates qualifications of licensed independent practitioners to provide services to its members. Should you u...

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 that the agency relationship exists. correct answers Express authority This is the most limited of all the agency relationships correct answers Special agency This type of agency is created whe...