Agency
Which of the following best describes an 'express agency'?
AAn agency created by the actions of the parties
BAn agency created by a written or oral agreement✓ Correct
CAn agency implied by law
DAn agency that cannot be terminated
Explanation
Express agency is created by an explicit written or oral agreement between the principal and agent — for example, a signed listing agreement.
Related California Agency Questions
- In a typical California transaction, the selling broker (buyer's agent) is considered the agent of:
- Under California's DRE regulations, a salesperson's agency obligations ultimately flow through:
- Which of the following is NOT a fiduciary duty an agent owes to their principal?
- A buyer's agent discovers that a home has significant foundation problems not disclosed by the seller. What is the agent's duty?
- What does the acronym 'OLDCAR' stand for in the context of agent fiduciary duties?
- The duty of 'obedience' in a fiduciary relationship means an agent must:
- A seller's agent who learns the seller is willing to accept less than the listing price must:
- What does it mean when an agent has 'apparent authority' to bind a principal?
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