Z listed the property. When the buyers expressed interest in seeing it, Z disclosed they would have no representation and the buyers agreed in writing. When writing the offer, the buyers asked Z what they should offer. Z responded, "Oh 93% of the listed price would be good." Which most applies?

a) This would be a good suggestion for the agent to make.
b) This is ostensible agency between Z and the buyers
c) Z is properly representing the seller and obtaining an offer.
d) This is limited agency and legal.

Answer: b) This is ostensible agency between Z and the buyers

Business

You might also like to view...

Which one of the following is one important characteristic of a private bourse?

A) Brokers are appointed by the government. B) A single corporation acquires a monopoly over all stock market transactions. C) It is owned and operated by a corporation founded for the purpose of trading securities. D) Private exchanges, in many countries, do not usually compete with one another.

Business

Which of the following characteristics of an organization is recommended by Weber's principles of bureaucratic structure?

A) loosely defined roles B) a small span of control C) use of standard operating procedures D) decentralization

Business