Under Delaware agency law, what duty requires an agent to place the client's interests above their own?
Why Loyalty Is Correct
Answer B: Loyalty
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
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate 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.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
People Also Study
Related Delaware Questions
- Which fiduciary duty obligates an agent to promptly deliver all offers and information relevant to the transaction?Agency
- Which of the following is an example of a 'ministerial act' a Delaware licensee may perform without creating an agency relationship?Agency
- In a designated agency arrangement in Delaware, two licensees from the same firm each represent one party. The broker:Agency
- A month-to-month tenancy in Delaware can be terminated by either party with how much written notice?Property Management
- What additional education must a Delaware salesperson complete to become a broker?Delaware License Law
- A property has potential gross income of $120,000, vacancy losses of 5%, and operating expenses of $40,000. What is the NOI?Real Estate Math
- A tenancy by the entirety in Delaware:Property Ownership
- Under Delaware law, which of the following is a permissible activity for a real estate licensee without a listing?Delaware License Law
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.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
Study This Topic
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →