Agency
What is the law of agency's 'equal dignity rule' in Nevada and how does it apply to real estate?
AAll parties in a real estate transaction must be treated equally
BAn agent's authorization must be in writing if the underlying contract it relates to must be in writing under the Statute of Frauds✓ Correct
CAll agency agreements must be equal in duration
DThe agent's commission must be equal to the listed percentage
Explanation
The equal dignity rule requires that an agent's authority to enter into a contract that must be in writing (like a real estate purchase contract) must itself be in writing. This means listing agreements and buyer's agency agreements must be written to be enforceable in Nevada.
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