Agency
Which statement about a seller's agent in Alaska is TRUE?
AThe seller's agent may lie to the buyer to achieve the seller's objectives
BThe seller's agent owes the buyer honest dealing and must disclose known material defects✓ Correct
CThe seller's agent owes fiduciary duties to both buyer and seller
DThe seller's agent may recommend the seller accept a lower offer without consulting the seller
Explanation
While a seller's agent owes fiduciary duties only to the seller, they must still deal honestly with buyers and disclose known material defects. They cannot make fraudulent misrepresentations to the buyer.
Related Alaska Agency Questions
- Which of the following actions would terminate an agency relationship in Alaska by operation of law?
- Which of the following best describes a designated agency arrangement?
- Which type of agency is created when an agent acts on behalf of a principal without explicit authorization, but the principal later approves the action?
- Subagency in Alaska traditionally meant that a cooperating broker:
- In Alaska, a seller's agent owes which of the following duties to an unrepresented buyer?
- The legal concept that holds an employing broker responsible for the acts of affiliated licensees is known as:
- An agent who exceeds the scope of authority granted by the principal is acting with:
- An agent's authority to bind a principal is limited to:
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