Agency
What does the acronym 'OLDCAR' stand for in the context of agent fiduciary duties?
AOnly Licensed Dealers Can Arrange Real estate
BObedience, Loyalty, Disclosure, Confidentiality, Accounting, Reasonable care✓ Correct
COpen Listings, Dual agency, Commission, Agency, Ratification
DOffer, Listing, Deed, Contract, Assessment, Recording
Explanation
OLDCAR is a mnemonic for the six fiduciary duties agents owe their clients: Obedience, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable care (diligence). These form the core of an agent's legal obligations to their principal.
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