Agency
In Tennessee, which of the following would terminate an agency relationship?
AThe principal taking a vacation
BThe mutual agreement of the agent and principal, expiration of the agency agreement, or death of either party✓ Correct
CThe agent submitting an offer
DThe principal listing with a different agent
Explanation
Agency relationships terminate upon: mutual agreement, expiration of the agreement, completion of the agency purpose, revocation by the principal, renunciation by the agent, or death or incapacity of either party.
Related Tennessee Agency Questions
- 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:
- A Tennessee listing agreement that describes the property incorrectly could result in:
- In Tennessee, an agent who discovers a structural defect during a showing must:
- In Tennessee, an agent who acts beyond the scope of authority granted in the agency agreement is acting as a(n):
- In Tennessee, a broker who lists a property at an unrealistically high price at the seller's insistence should:
- The real estate doctrine of 'caveat emptor' (let the buyer beware) has been significantly limited in Tennessee by:
- The duty of 'obedience' in an agency relationship means the agent must:
- In Tennessee, a real estate agent who recommends a home inspector who pays them a referral fee without disclosing this arrangement is:
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