Agency
In Missouri, an agent who receives a gift from a buyer or seller in a transaction without the other client's knowledge may have violated:
AOnly tax law
BTheir fiduciary duty of loyalty and accounting✓ Correct
CRESPA exclusively
DNo rule since gifts are permitted
Explanation
Receiving undisclosed gifts or benefits from parties in a transaction violates the agent's fiduciary duties of loyalty and accounting. In Missouri, agents must disclose and account for any compensation or benefits received related to their client's transaction.
Related Missouri Agency Questions
- In Missouri, the agency disclosure form must be provided at the first 'substantive contact.' This term means when:
- Which of the following is NOT a fiduciary duty owed by a Missouri buyer's agent to their client?
- An agent's authority to perform all acts necessary to manage a client's property is called:
- A subagent in Missouri is:
- When a Missouri buyer's agent represents a buyer in purchasing a home that belongs to the agent's relative, the agent must:
- When a Missouri buyer's agent also represents the seller in the same transaction, the agent must disclose this to:
- In Missouri, an agent receives a signed offer from a buyer. The seller has not yet responded. The offer can be:
- A Missouri listing agent receives two offers simultaneously. Their duty is to:
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