Which of the following statements is/are true in relation to the authority of real estate agents in New South Wales to participate in the contract of sale?
A) Agents may enter into a contract of sale and participate in an exchange if they have express approval of the principal or the principal's legal representative.
B) A principal who does not give an agent express authority to exchange contracts may be legally bound by the contract that was exchanged by an agent with implied authority.
C) Agents do not have statutory authority to exchange contracts.Their authority in this area is based on the common law.
D) All of the above.
E) A and B only.
Correct Answer:
Verified
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