Under NC law, an agency relationship created through the conduct of the parties (rather than a written agreement) is called:
Why Implied agency Is Correct
Answer B: Implied agency
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
Key Agency Terms in This Question
People Also Study
Related North Carolina Questions
- In NC, a buyer who submits an offer and pays an earnest money check, but no written buyer agency agreement has been signed, has implicitly established what type of relationship?Agency
- A North Carolina broker who provides services to a buyer without a written buyer agency agreement is acting as:Agency
- Apparent authority in a real estate agency relationship arises when:Agency
- The agency relationship between a listing broker and seller in North Carolina is created by:Agency
- Under NC license law, a broker must provide a written agency agreement before performing which service?North Carolina License Law
- A NC buyer and seller agree verbally on a sale price but have not yet executed a written contract. This verbal agreement is:Contracts
Key Terms to Know
A 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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Study This Topic
Practice More North Carolina Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →