An agent's authority to bind a principal is limited to:
Why Actions expressly authorized, implied by circumstances, or ratified by the principal Is Correct
Answer C: Actions expressly authorized, implied by circumstances, or ratified by the principal
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.
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Related Alaska Questions
- In Alaska, an agent's authority to bind the principal (client) is limited to the scope of the:Agency
- In Alaska, the doctrine of 'apparent authority' can bind a principal when:Agency
- An agent who exceeds the scope of authority granted by the principal is acting with:Agency
- An Alaska real estate agent who acts beyond the scope of their authorized duties without the principal's consent may create liability for:Agency
Key Terms to Know
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
AgencyA 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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Math Concepts
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