Delaware License LawIntermediateDelaware Exam
A Delaware real estate licensee who engages in misrepresentation faces discipline that may include:
AOnly a written warning on first offense
BLicense suspension or revocation and possible civil liabilityCorrect
CA mandatory 10-hour continuing education course only
DReassignment to a different broker
Why License suspension or revocation and possible civil liability Is Correct
Answer B: License suspension or revocation and possible civil liability
Misrepresentation by a Delaware licensee can result in disciplinary action including license suspension or revocation, as well as civil liability to injured parties.
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Key Terms to Know
Listing Agreement
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
Math Concepts
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