Agency
The concept of 'agency by ratification' in Vermont means:
AAn agency relationship is created by the broker's license alone
BA principal confirms and accepts unauthorized acts performed on their behalf, creating an agency after the fact✓ Correct
CThe agent creates authority by advertising
DThe buyer automatically becomes the agent's client upon touring a property
Explanation
Agency by ratification occurs when a principal accepts and approves unauthorized acts of a purported agent after the fact, thereby creating an agency relationship retroactively.
Related Vermont Agency Questions
- Vermont's 'apparent authority' in real estate agency means that:
- A subagent in a Vermont real estate transaction:
- Vermont's principle of 'informed consent' for dual agency means both buyer and seller must:
- Which of the following statements about sub-agency is TRUE in Vermont?
- In Vermont, a licensee acting as a disclosed dual agent represents:
- A Vermont buyer's agent secures a property for their buyer client. After closing, the agent receives a gift from the seller as a thank-you. The agent should:
- Vermont's designated agency model allows a broker to:
- An agent's authority to bind their principal in Vermont is limited to:
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