Agency
In North Dakota, an agent who does not disclose a known defect to a buyer is potentially liable for:
ANothing since only the seller has this obligation
BFraud by omission (concealment), exposing the agent to civil damages and license discipline✓ Correct
COnly an administrative fine from the NDREC
DOnly criminal charges, not civil liability
Explanation
Failure to disclose a known material defect constitutes fraud by concealment (fraud by omission). The agent may face civil liability to the buyer for damages and NDREC disciplinary action including license revocation.
Related North Dakota Agency Questions
- In North Dakota, a seller's agent must disclose their agency relationship to a buyer:
- A North Dakota buyer's agent discovers mid-transaction that the seller is related to the listing agent. This should be:
- 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?
- Under North Dakota's agency disclosure requirements, the agency disclosure form is NOT required when:
- Which of the following is the BEST example of the duty of 'accounting' owed by an agent?
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- A North Dakota agent representing a buyer discovers the listing agent is also representing the seller (single agency). The buyer's agent owes the buyer all of the following EXCEPT:
- In North Dakota, a 'net listing' creates a potential conflict of interest because:
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