Agency
In North Dakota, when does an agency relationship typically terminate?
AOnly when the agent decides to terminate it
BUpon completion of the transaction, expiration of the agreement, mutual agreement, death of a party, or breach of the agency agreement✓ Correct
COnly at the end of the calendar year
DOnly when the client terminates it in writing
Explanation
Agency relationships terminate by: completion of the purpose (transaction closes), expiration of the agreement term, mutual agreement of the parties, revocation by the principal, renunciation by the agent, death or incapacity of either party, destruction of the subject property, or breach of the agreement.
Related North Dakota Agency Questions
- A North Dakota listing agent receives an offer that the seller's spouse has a vested interest in rejecting (family dispute). The agent should:
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