Agency
Under Oregon law, which of the following is a characteristic of a special agency relationship created by a listing agreement?
AThe agent has broad authority to act on all matters for the principal
BThe agent is authorized only for specific acts — primarily finding a buyer✓ Correct
CThe agent may modify contract terms without the seller's consent
DThe agent has power of attorney to sign documents for the seller
Explanation
A listing agreement creates a special (limited) agency where the broker is authorized to perform specific acts — primarily to find a ready, willing, and able buyer. The broker cannot sign the purchase contract for the seller or take other actions beyond the scope of the listing agreement.
Related Oregon Agency Questions
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