Agency
What is 'vicarious liability' in the context of Illinois real estate brokerage?
ADirect personal liability of an agent for their own actions
BThe liability of a managing broker or brokerage for the authorized acts of affiliated licensees✓ Correct
CLiability shared between two brokerages in a co-brokerage transaction
DCriminal liability that automatically transfers from broker to managing broker
Explanation
Vicarious liability imposes legal responsibility on one party (the principal/employer) for the actions of another (the agent/employee) when those actions are within the scope of the authorized relationship. In Illinois real estate, managing brokers and brokerages can be vicariously liable for the authorized acts of affiliated licensees.
Related Illinois Agency Questions
- Illinois law requires a licensee to provide a written Agency Disclosure form to a consumer:
- Which of the following is NOT one of the duties a licensee owes to all parties (clients and customers) under Illinois law?
- The duty of 'obedience' in a fiduciary relationship requires an agent to:
- A real estate broker's fiduciary duty of loyalty requires the broker to:
- What is 'agency coupling' in Illinois real estate transactions?
- Under Illinois agency law, which of the following best describes a 'subagent'?
- In Illinois, 'designated agency' is beneficial because it:
- Ratification in agency law occurs when:
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