Agency
In Tennessee, a 'gratuitous agent' is one who performs agency services:
AFor a very small fee
BWithout compensation✓ Correct
COn behalf of a nonprofit organization
DOn a part-time basis
Explanation
A gratuitous agent performs agency services without compensation. While the agent still owes fiduciary duties, the absence of compensation may affect the standard of care owed.
Related Tennessee Agency Questions
- The Tennessee Agency Disclosure document must be provided to a prospective buyer or seller:
- In Tennessee, the 'ABC' (Acknowledgment of Brokerage Relationship) form is used to:
- Which of the following is an example of 'puffing' rather than a material misrepresentation?
- The difference between a general agent and a special agent is that a general agent:
- In Tennessee, material facts that a licensee must disclose include all of the following EXCEPT:
- In Tennessee, a 'designated agency' arrangement means:
- Tennessee's agency disclosure law requires the use of a form that is:
- In Tennessee, if a listing broker learns during showings that the seller has structural defects they did not disclose, the broker should:
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