Agency
An agent's duty of CARE requires the agent to:
AFollow all instructions from the principal
BExercise reasonable skill and competence on behalf of the principal✓ Correct
CDisclose all material facts to third parties
DNever disclose confidential information
Explanation
The fiduciary duty of care (due diligence) requires the agent to use reasonable skill, care, and diligence in performing their duties—comparable to what a competent professional would do in similar circumstances.
Related Arkansas Agency Questions
- Dual agency in Arkansas requires:
- A seller's agent who also acts as a mortgage loan originator for the same buyer in the same transaction would most likely violate:
- The written agency disclosure required by Arkansas law must be provided to:
- A seller's agent receives two offers simultaneously. The agent's duty of disclosure requires them to:
- In Arkansas, dual agency occurs when a broker represents:
- In Arkansas, when a licensee works with a buyer but has NO written buyer-agency agreement, the licensee is presumed to be:
- Ratification of an unauthorized act by an agent occurs when the principal:
- Which of the following best describes an 'arm's-length transaction'?
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