An agency relationship created without explicit agreement but implied by the actions of the parties is called:
Why Implied agency Is Correct
Answer B: Implied agency
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
Key Agency Terms in This Question
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Related Alabama Questions
- An agent accidentally creates an agency through their conduct without a written agreement. This is called:Agency
- In Alabama, which type of agency relationship is created when a broker represents both buyer and seller with written consent?Agency
- Which type of agency is created when a principal's actions lead a third party to reasonably believe an agency relationship exists?Agency
- In Alabama, a written brokerage agreement that creates an agency relationship between a broker and seller is called a:Agency
- An Alabama property owner who gives a neighbor permission to park in their driveway daily, without any formal agreement, has created a:Property Ownership
Key Terms to Know
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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