Agency
Under Arkansas law, an agent must disclose to a buyer that they have a personal financial interest in a transaction. This is required by the duty of:
AObedience
BLoyalty
CDisclosure✓ Correct
DAccounting
Explanation
The duty of disclosure requires the agent to reveal any material facts — including personal financial interests in the property — that could affect the client's decision-making.
Related Arkansas Agency Questions
- The duty of 'accounting' in agency requires a licensee to:
- An agent who represents a buyer and collects a fee from both the buyer and the seller must:
- The duty of 'accounting' in an agency relationship means the agent must:
- In a traditional seller agency relationship, the licensee's fiduciary duties run primarily to:
- In a transaction brokerage arrangement, the real estate agent:
- Under Arkansas law, when must agency disclosure be provided to a prospective buyer or seller?
- A transaction broker (non-agent facilitator) in Arkansas owes clients which level of duty?
- Which of the following terminates an agency relationship by operation of law?
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