Agency
A North Dakota agent's duty to 'disclose material facts' requires disclosing:
AOnly facts the agent personally observed
BAll facts known to the agent that would likely affect a reasonable person's decision to buy, sell, or lease✓ Correct
COnly facts required by the seller's disclosure form
DOnly structural defects discovered during inspection
Explanation
The duty to disclose material facts extends to all facts the agent knows (or should reasonably know) that would be significant to a reasonable buyer, seller, or tenant in making their decision. This includes physical defects, legal issues, environmental hazards, and other matters that affect value or desirability.
Related North Dakota Agency Questions
- In North Dakota, a cooperating broker who works with a buyer in a transaction where another broker holds the listing has what type of relationship with the buyer?
- In North Dakota, a 'net listing' creates a potential conflict of interest because:
- Under North Dakota law, which fiduciary duty requires an agent to act in the client's best interest even if it conflicts with the agent's personal interest?
- When a North Dakota licensee acts as a transaction coordinator (facilitator) rather than an agent:
- The fiduciary duty of 'obedience' means the agent must:
- A North Dakota buyer's agent fails to submit an offer within the agreed timeframe, causing the seller to accept another offer. The buyer's agent may have breached the duty of:
- Which of the following is the BEST description of express agency?
- The 'parol evidence rule' in North Dakota real estate contracts means:
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