Which of the following will terminate an agency in a broker seller relationship? (2024)

Which of the following will terminate an agency in a broker seller relationship?

Final answer:

Which of the following will terminate an agency in a broker-seller relationship?

Final answer: An agency in a broker-seller relationship can be terminated by the death of the broker, mutual agreement between the broker and seller, bankruptcy of the broker, or an expiration of the agency period.

Which of the following would be a reason to terminate an agency relationship?

The following are a few situations that would allow an employer to terminate an employee's agency relationship:  There is habitual drug or alcohol use that affects an employee's performance  The employee breaches their duty of loyalty to the employer  The employee refuses to follow the employer's lawful instructions ...

Which event will terminate an agency in a broker-seller relationship quizlet?

The owner declares personal bankruptcy. This event will terminate an agency in a broker-seller relationship. The buyer and seller are represented by the same company.

Which of the following events will terminate an agency relationship?

An agency terminates expressly by the terms of the agreement or mutual consent, or by the principal's revocation or the agent's renunciation. An agency terminates impliedly by any number of circ*mstances in which it is reasonable to assume one or both of the parties would not want the relationship to continue.

Which of the following can terminate an agency relationship quizlet?

An agency relationship can be terminated by the completion of the agency, death or incapacity of either party, destruction or condemnation of the property, expiration of the terms of agency, mutual agreement, renunciation by the agent or revocation by the principal, or bankruptcy of the principal.

How do you end a broker relationship?

What are three ways an agency can be terminated?

What are the six ways in which agency may be terminated?

What is the most ideal way to terminate an agency relationship quizlet?

That is why mutual agreement is thought to be the best form of early termination of agency. And, for the protection of all parties, it is always wise to put the mutual agreement to terminate agency IN WRITING.

Which of the following would terminate an agency listing agreement?

There are three surefire ways to terminate a listing agreement according to real property law — death, insanity, or bankruptcy of either the broker or the seller. Depending on the contract, someone who has power of attorney for the seller may be able to continue the sale of the home.

What event does not terminate an agency?

An agency relationship can usually be terminated in several ways such as through abandonment by the agent, revocation by the principal, and the fulfillment of the agency purpose. However, option 3, which is 'Submission by the agent of two offers at the same time', would not typically terminate an agency relation.

When an agent is terminated by a broker dealer only the broker dealer is obligated to notify the state?

The broker-dealer and agent are both responsible for notifying the state administrator when an agent's employment is terminated. This is accomplished by filing Form U-5.

Which of the following instances is an example of an agency relationship terminated?

The correct answer is c. Death of the principal or agent. The death of the principal or agent is an example of an agency relationship terminated by operation of law. This event automatically ends the agency relationship without any action from the surviving party.

How do you terminate apparent authority?

This can be done by expressly communicating to a third party that an agent can no longer act on behalf of the company. Sometimes terminating an agent's actual authority is not enough. As a principal, you should be sure to terminate an agent's apparent authority by reaching out to third parties anyways.

What is the legal relationship between broker and seller?

(Civil Code § 2322, Probate Code §§ 16000-16105.) In most real property transactions, the real estate broker acts as an agent for someone else - the principal - who seeks to sell to, buy from, or exchange with a third party real property or a business opportunity.

Which of the following options will not terminate an agency relationship?

An agency relationship, such as in a listing, may be terminated by all of the following methods except: resignation of the agency by the real estate broker.

Which of the following is not a way to terminate an agency relationship?

Final answer:

An agency relationship can be terminated by operation of law through various methods, including insanity, death, and bankruptcy. However, mutual agreement is not a method of terminating an agency relationship by operation of law.

Which of the following is an example of a termination of agency by the actions of the parties?

One example of termination by the actions of the parties is the expiration of the contract. When a contract between the agent and principal comes to an end due to the specified time limit, the agency relationship is terminated.

What must the broker do after the termination of an agency relationship quizlet?

2 of 9 - Which of the following is required of the broker after the termination of an agency relationship? The broker must account for any money or property received during the relationship. The broker must disclose all information that had been deemed confidential during the relationship.

Can an agent terminate an agency relationship?

Either party may terminate the agency relationship, even if it violates a contractual agreement between the parties.

How do you cancel a contract with a broker?

What are the 4 ways an offer may be terminated?

An offer may be terminated through lapse of time, the death of the offeror or offeree, the failure of some condition or contingency, by rejection (or counter-offer), and by communication of a revocation of the offer.

In what 4 ways can a contract end or be terminated?

Can an agency terminate once its purpose is achieved?

An agency created for a specific purpose as well as an agency created by a power of attorney is usually terminated once the particular purpose for which it was created was accomplished. After the termination of the agency, the agent is free of any fiduciary duty to the principal arising from the agency relationship.