Martin, who wants to sell his house, authorizes his concierge, William, to find a potential buyer and finalize a deal above a stipulated price. William contracts Chris, a real estate broker, and intends him to only find a potential buyer and send him or her over to William for the sale. Martin then contracts ReNowait Goodhouses, a home improvement company, to renovate the house. ReNowait completes its work and Martin pays the company. Chris then searches for a suitable buyer and finds one in George.
- George buys the house and Chris is paid for his services. In this scenario, what type of commercial relationship exists between Martin and William?
A) an employer-employee relationship
B) an agent-agent relationship
C) an agent-independent contractor relationship
D) a principal-agent relationship
Correct Answer:
Verified
Q1: Martin, who wants to sell his house,
Q2: Martin, who wants to sell his house,
Q4: Martin, who wants to sell his house,
Q5: Martin, who wants to sell his house,
Q6: Marlon intends to sell a piece of
Q7: Marlon intends to sell a piece of
Q8: Taylor gives a power of attorney to
Q9: Marcus employs a real estate broker, Dean,
Q10: Describe the concept of apparent agency.
Q11: Ronald, the purchasing manager of Telly's Supermarket
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents