Agency
What is 'ratification' of an unauthorized act by a real estate agent in Kansas?
AThe broker's refusal to honor an unauthorized contract
BThe principal's after-the-fact approval of an act the agent performed without authority✓ Correct
CA court order requiring performance
DAn amendment to the agency agreement
Explanation
Ratification occurs when a principal approves or confirms an act that was performed without authority. Once ratified, the act is treated as if it had been authorized from the beginning.
People Also Study
Related Kansas Questions
- A Kansas commercial lease 'holdover' tenant who stays after lease expiration without a new agreement is typically treated as:Property Management
- A Kansas licensee who works with a buyer without a written agency agreement is most likely acting as:Agency
- A Kansas listing agent who also represents the buyer in the same transaction without proper consent is engaged in:Agency
- A Kansas real estate agent who discloses a buyer's credit weaknesses to the seller without authorization has violated the duty of:Agency
- A Kansas agent who 'flips' a contract by buying property at a low price and immediately reselling to a client at an inflated price without disclosing the profit is engaging in:Agency
Key Terms to Know
Agency
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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Study This Topic
Practice More Kansas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kansas Quiz →