Agency
An agency by estoppel arises when:
AA written agency agreement exists
BA principal allows another person to appear to act as their agent, preventing the principal from denying the agency to a third party who reasonably relied on the appearance✓ Correct
CAn agent exceeds their express authority
DThe agent ratifies an unauthorized act
Explanation
Agency by estoppel prevents a principal from denying an agency relationship when their conduct (or inaction) allowed another person to appear to have authority, and a third party reasonably relied on that appearance to their detriment.
Related Arkansas Agency Questions
- When does an agency relationship typically terminate?
- In Arkansas, which written document typically establishes the seller's agency relationship with a listing broker?
- A transaction broker (non-agent facilitator) in Arkansas owes clients which level of duty?
- Dual agency in Arkansas requires:
- An agent who has NOT been hired by a buyer but nonetheless acts in ways that create a reasonable belief of representation is an example of:
- Agency by ratification is created when a principal:
- A net listing in Arkansas is:
- The agency relationship between a listing broker and seller is typically created by:
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