Delaware License LawIntermediateDelaware Exam
Under Delaware law, which of the following actions by a licensee is MOST likely to result in license revocation?
AFiling a late renewal application
BIntentionally misrepresenting the condition of a property to induce a purchaseCorrect
CFailing to include the Commission's phone number in advertising
DShowing a property to a buyer without a written buyer representation agreement
Why Intentionally misrepresenting the condition of a property to induce a purchase Is Correct
Answer B: Intentionally misrepresenting the condition of a property to induce a purchase
Intentional misrepresentation (fraud) to induce a purchase is a serious violation of Delaware license law and can result in license revocation, civil liability, and potentially criminal charges.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Math Concepts
State-Specific Concepts
License Law
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