Agency
Ostensible (apparent) agency arises when:
AA formal agency agreement is signed
BA principal's conduct leads a third party to reasonably believe an agency exists✓ Correct
CA broker acts for a seller without any agreement
DTwo brokers share a listing
Explanation
Ostensible or apparent agency occurs when the principal's conduct or representations cause a third party to reasonably believe that an agency relationship exists, even without a formal agreement.
Related Indiana Agency Questions
- An Indiana seller's agent who negotiates a lower price than the listed price for their buyer client (while also representing the seller) without disclosure is engaged in:
- When an Indiana agency relationship is terminated, the agent's duty of confidentiality toward the former client:
- An agent's duty of reasonable care requires the agent to:
- Indiana requires that the agency disclosure form be provided to a consumer:
- An Indiana broker who represents a buyer in a commercial transaction where the buyer wants to purchase a property with known environmental contamination should:
- In Indiana, the duty of accounting in an agency relationship requires an agent to:
- The duty of 'reasonable care and diligence' requires an Indiana agent to:
- An agency relationship in Indiana is most commonly created by:
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