A real estate broker acts from a position of trust for the seller or buyer they have been contracted to represent. This relationship is legally described as a(n):
a. attorney-in-fact.
b. fiduciary relationship.
c. ostensible agent.
d. independent contractor relationship.
Answer: b. fiduciary relationship.
Business
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What was the doctrine of caveat emptor in sales or lease contracts?
A) It was law balanced risk of loss between seller and buyer. B) It was a law that stated the risk of loss was completely on the buyer. C) It was a law that gave more protection to the buyer in a sales contract. D) It was a law that stipulated the issue of warrants in sale or lease transactions.
Business
Under joint and several liability, all the parties responsible for a tort will be liable for damages as well
Indicate whether the statement is true or false
Business