Agency
A Nebraska buyer's agent submits an offer with a handwritten change to the form contract without initialing the change. This creates a:
AAutomatically void contract
BPotential ambiguity — changes should be initialed by all parties to confirm mutual assent✓ Correct
CValid contract since the agent is authorized to make changes
DNREC violation only
Explanation
Contract modifications should be initialed by all parties to confirm they agreed to the specific change. Uninitiated modifications can create ambiguity about whether the change was agreed to, potentially creating contract disputes.
People Also Study
Related Nebraska Questions
- A Nebraska buyer's agent submits an offer containing false information provided by the buyer without the agent's knowledge. The agent is:Agency
- A Nebraska buyer submits an offer to purchase that expires at 5:00 PM. At 4:58 PM, the seller signs the acceptance. At 5:02 PM, the seller's agent communicates acceptance to the buyer. Is there a valid contract?Contracts
- The Nebraska agency disclosure form must be provided to all parties and signed to acknowledge:Agency
- When a Nebraska buyer's agent writes an offer for a buyer on a property listed by the same brokerage, this typically creates:Agency
- Nebraska's 'ministerial acts' (acts a licensee may perform for a customer without creating an agency relationship) include:Agency
- A Nebraska salesperson may NOT do which of the following without specific written authorization from their broker?Nebraska License Law
- A Nebraska seller accepts a buyer's offer. Before closing, the seller discovers the buyer misrepresented their income on the contract. The seller may:Contracts
Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same 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.
Study This Topic
Practice More Nebraska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nebraska Quiz →