Agency
When does an agency relationship typically terminate in Alabama?
AOnly when the property sells
BUpon completion of the purpose, expiration, mutual agreement, or death of a party✓ Correct
COnly upon written notice from AREC
DAfter 6 months automatically
Explanation
Agency relationships terminate upon completion of the purpose (sale), expiration of the agreement, mutual agreement to terminate, death or incapacity of a party, or destruction of the property.
Related Alabama Agency Questions
- In Alabama, a seller's agent may disclose which of the following about the seller to a buyer?
- An Alabama agent who receives a higher offer after already presenting and having accepted a lower offer should:
- In a dual agency situation, the agent owes both parties the duty of:
- Which of the following is an example of a licensee's duty of 'diligence' to their client?
- An agent is required to pass along all offers to the seller, but may an agent refuse to present an offer at the seller's explicit written request?
- In Alabama, designated agency means:
- The phrase 'meeting of the minds' in contract law refers to:
- A buyer's broker discovers that the seller is facing foreclosure — information not directly related to the property. The buyer's broker should:
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