Which type of agency relationship is created when a principal approves an act already performed without prior authorization?
Why Agency by ratification Is Correct
Answer C: Agency by ratification
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
Key Agency Terms in This Question
People Also Study
Related California Questions
- Which type of agency is created when a principal's actions lead a third party to reasonably believe an agency relationship exists?Agency
- An agent who creates the impression of being someone's agent through conduct, even without an express agreement, has created what type of agency?Agency
- In California, which form confirms the agency relationship at the time a purchase agreement is executed?Agency
- Which fiduciary duty requires an agent to keep the principal's confidential information secret even after the agency relationship ends?Agency
- A tenant's lease expires and they remain in possession without signing a new lease, continuing to pay rent, which the landlord accepts. What type of tenancy has been created?Property Management
- Which type of tenancy is created when a landlord allows a tenant to remain in possession after a lease expires without a new agreement?Property Ownership
- What type of agency relationship exists between a property manager and a property owner?Property Management
Key Terms to Know
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Study This Topic
Practice More California Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free California Quiz →