Agency
Under Oregon law, a real estate agent who makes a false statement knowing it to be false to induce a party to enter a transaction has committed:
APuffing
BFraud (intentional misrepresentation)✓ Correct
CInnocent misrepresentation
DNegligent misrepresentation
Explanation
Fraud (intentional misrepresentation) requires: a false statement of material fact, knowingly made (or with reckless disregard for its truth), with intent to deceive, reliance by the other party, and resulting damages. This is the most serious form of misrepresentation and carries the most severe legal consequences.
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Key Terms to Know
Agency
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.
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