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A seller instructs their listing agent not to show the property while it's being painted. The agent disregards this instruction, shows the home, and secures a high offer which the seller accepts. This scenario exemplifies:
A seller instructs their listing agent not to show the property while it's being painted. The agent disregards this instruction, shows the home, and secures a high offer which the seller accepts. This scenario exemplifies:
Which of the following best describes the key element of 'agency by ratification'?
Which of the following best describes the key element of 'agency by ratification'?
A real estate agent shows a property against the seller's explicit instructions, and the seller later accepts an offer from that showing. What legal principle could apply to explain this scenario?
A real estate agent shows a property against the seller's explicit instructions, and the seller later accepts an offer from that showing. What legal principle could apply to explain this scenario?
What is the primary distinction between 'ostensible agency' and 'agency by ratification'?
What is the primary distinction between 'ostensible agency' and 'agency by ratification'?
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Under what circumstances does a dual agency typically arise?
Under what circumstances does a dual agency typically arise?
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Study Notes
Agency Relationships
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Agency by Ratification: A principal confirms an agent's act that was unauthorized at the time it was performed.
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Example: A seller instructed their listing agent not to show a house while it was being painted. The agent, disregarding this instruction, showed the house and received an offer exceeding the listing price. The seller, upon learning of this, accepted the offer and communicated this to the buyer. This acceptance, following the unauthorized viewing, is an example of agency by ratification.
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Key Characteristic: The agent's actions were outside their authorized scope when performed, but the principal later approved of them.
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Ostensible Agency & Agency by Estoppel: These involve misleading a third party into believing an agency relationship exists, even if no formal agreement is present. They are not illustrated in the scenario.
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Dual Agency: This is when a single agent represents both buyer and seller simultaneously.
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Legal Requirements: In California, dual agency is legally permissible but requires the informed, written consent of both parties beforehand. The provided example does not contain this aspect.
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Description
Test your understanding of various agency relationships, including agency by ratification, dual agency, and more. This quiz will help clarify the distinctions between these concepts and their legal implications. Perfect for students in real estate or law courses.
