Alaska License LawIntermediateAlaska Exam
An Alaska licensee who fails to present a written counteroffer to the seller's broker within a reasonable time may be in violation of their duty of:
ALoyalty
BObedience
CPromptness and diligence in presenting offersCorrect
DConfidentiality, under the applicable standard
Why Promptness and diligence in presenting offers Is Correct
Answer C: Promptness and diligence in presenting offers
Alaska license law and professional ethics require licensees to present all offers and counteroffers promptly to the appropriate party. Delaying or failing to present an offer in a timely manner is a violation of the agent's duty of diligence and promptness.
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Key Terms to Know
Option Contract
A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
State-Specific Concepts
License Law
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