Agency
In Louisiana, a 'gratuitous agent' is one who:
AReceives very low compensation
BActs for a principal without compensation — though they still owe the principal reasonable care✓ Correct
CIs compensated only upon successful completion of the agency
DIs appointed by the court without the principal's knowledge
Explanation
A gratuitous agent acts without compensation. While they are not bound by all the duties of a compensated agent, they still owe the principal a duty of care and must act in the principal's best interest while undertaking the agency.
Related Louisiana Agency Questions
- In Louisiana, a 'net listing' is prohibited primarily because it creates which concern?
- In Louisiana, which of the following is an example of a licensee violating the duty of confidentiality?
- In Louisiana, a 'mandant' in a real estate agency relationship refers to:
- In Louisiana, a transaction broker (facilitator) owes which duties?
- In Louisiana, a 'mandatary' in the context of real estate agency is best described as:
- A Louisiana agent who represents neither party in a real estate transaction but assists them in completing it is called a:
- The fiduciary duty of 'loyalty' in a Louisiana agency relationship requires the agent to:
- In Louisiana, 'puffing' by a real estate agent is best described as:
Practice More Louisiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Louisiana Quiz →