Contracts
Under Oklahoma's Deceptive Trade Practices Act, a real estate agent who makes materially false statements to induce a sale may face:
AOnly OREC discipline — no civil liability
BCivil liability for actual damages plus possible treble damages and attorney fees under DTPA if the agent's conduct constitutes a deceptive trade practice✓ Correct
COnly a $50 fine
DNo consequences beyond losing the commission
Explanation
Oklahoma's Deceptive Trade Practices Act can provide additional civil remedies for consumers harmed by deceptive business practices, potentially including treble damages (up to three times actual damages) and attorney fees when real estate agents make material misrepresentations to induce sales.
Related Oklahoma Contracts Questions
- An Oklahoma home inspection contingency gives the buyer the right to negotiate repairs or credits. If the seller refuses all repairs, the buyer may:
- An Oklahoma sales contract includes an 'as-is' clause. This clause means:
- An Oklahoma real estate broker who drafts custom contract provisions beyond the standard form should:
- Under Oklahoma law, what happens to a purchase contract if the property is destroyed by fire before closing?
- When a seller accepts an offer and deposits the earnest money, the contract is in which stage?
- Liquidated damages in a purchase contract refer to:
- In Oklahoma, a contract for deed (land contract or installment sale) is a form of seller financing where:
- In Oklahoma, the seller's obligation under a purchase contract to provide clear (marketable) title at closing means:
Practice More Oklahoma Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oklahoma Quiz →