What is 'estoppel' in the context of Delaware real estate agency?
Why A legal principle that prevents a party from acting inconsistently with a prior representation they made Is Correct
Answer B: A legal principle that prevents a party from acting inconsistently with a prior representation they made
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
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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.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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