Agency
An agent's authority to bind a principal is limited to:
AAny action the agent believes is in the principal's best interest
BOnly actions expressly authorized in writing by the principal
CActions expressly authorized, implied by circumstances, or ratified by the principal✓ Correct
DActions authorized by the Alaska Real Estate Commission
Explanation
An agent's authority includes express authority (specifically granted), implied authority (necessary to carry out express authority), and apparent authority (ratified after the fact). The agent cannot unilaterally expand their own authority.
Related Alaska Agency Questions
- A real estate agent in Alaska who represents both buyer and seller in the same transaction is called a:
- An agent's duty of loyalty to a client means the agent must:
- Which of the following is NOT a fiduciary duty owed by an agent to a principal?
- A listing agent who learns that the seller is in financial distress and must sell quickly:
- An agent who exceeds the scope of authority granted by the principal is acting with:
- Agency by estoppel arises when:
- A property manager acting as an agent for a landlord in Alaska owes the tenant:
- A listing agent learns that the seller is willing to accept $20,000 less than the listed price. The agent should:
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