Agency
In New Mexico, what is the difference between 'express agency' and 'implied agency'?
AThey are legally identical
BExpress agency is created by written or oral agreement; implied agency arises from conduct and circumstances✓ Correct
CImplied agency is stronger than express agency
DExpress agency requires court approval
Explanation
Express agency is formally created (written buyer representation agreement, listing agreement). Implied agency arises when the parties' conduct creates a reasonable belief that an agency relationship exists—without a formal agreement.
Related New Mexico Agency Questions
- The duty of confidentiality in an agency relationship means the agent must:
- In New Mexico, an agent may represent both the buyer and seller in the same transaction only if:
- In New Mexico, when a listing broker's firm also has a buyer who wants to purchase the listing, the qualifying broker may appoint:
- In New Mexico, a subagent is a licensee who:
- An exclusive agency listing in New Mexico differs from an exclusive right-to-sell listing in that:
- Under New Mexico law, a listing broker owes which duties to an unrepresented buyer?
- Informed consent for dual agency in New Mexico must be:
- Apparent authority in an agency relationship is created by:
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