David, the owner of BayView Reality Inc., decided to buy one of his own firm's listings for investment purposes. The principal (owner of the property) refused to pay any commissions nor reduce the price on this transaction. Can this impasse be legally resolved?
A) No, since the agent has placed his own interest in conflict with that of the principal, therefore such a contract is illegal and void.
B) Yes, all we need is an "arms length" transaction with third- party involvement.
C) Yes, since the real estate arbitration board would issue a ruling.
D) No, because David would lose his Realtor's license if he completes this transaction.
E) Yes, they both simply need to negotiate between them a satisfactory deal.
Correct Answer:
Verified
Q14: Travel Tours Inc. sells special holiday packages
Q15: In Montreal, Mike represents six different Canadian
Q16: Ingrid was the purchasing agent for Fashion
Q17: Joe is appointed to sell a yacht
Q18: An agency agreement can be established
A) by
Q20: James was an ordinary salesman for Bulldog
Q21: Define agency.
Q24: An agency contract may be terminated upon
Q27: A company that represents,either by words suggestive
Q58: How is the agency relationship used in
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