Agency
In Tennessee, a broker who has been 'ratified' as an agent means the principal has:
ACreated a new agency agreement
BAfter the fact, approved an act taken by the agent without prior authority✓ Correct
CTerminated the agency relationship
DTransferred the agency to a sub-agent
Explanation
Ratification occurs when a principal retroactively approves and accepts an agent's unauthorized act. Once ratified, the act is treated as if it had been originally authorized.
Related Tennessee Agency Questions
- Express agency is created by:
- In Tennessee, a licensee who also has a personal financial interest in a transaction (for example, part-owner of the company buying the listing) must:
- In Tennessee, when representing a buyer, an affiliate broker is required to:
- Under Tennessee law, when a buyer and seller in a transaction are both represented by different licensees from the same brokerage, and the principal broker does NOT intervene, this situation is most accurately described as:
- The Tennessee 'Preamble to License Law' states that the purpose of real estate licensing is to:
- The duty of 'obedience' in an agency relationship means the agent must:
- A Tennessee licensee who is offered cash 'under the table' from the seller to steer a buyer away from other listings should:
- Tennessee's agency laws require all licensees to avoid 'self-dealing.' Self-dealing means:
Practice More Tennessee Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Tennessee Quiz →