Agency
Which of the following BEST defines 'actual authority' in a real estate agency context?
AAuthority implied by the agent's conduct
BAuthority the principal has expressly or impliedly granted to the agent✓ Correct
CAuthority created when a third party reasonably believes the agent has authority
DAuthority granted by the Alaska Real Estate Commission
Explanation
Actual authority is the authority that a principal has expressly or impliedly granted to an agent. It can be expressed in the listing agreement or implied from the nature of the agent's role and the circumstances of the agency.
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