A principal and agent enter into an agency agreement under which the agent has a fixed 90-day
period to sell the principal's house. Which of the following will end the agency arrangement
prior to the end of the 90-day period?
A) Notification by the agent that the arrangement is over
B) Notification by the principal that the arrangement is over
C) Notification by either the agent or the principal that the arrangement is over
D) Neither the agent nor the principal can unilaterally end the arrangement prior to the
expiration of the 90-day period.
C
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The Texas Real Estate Commission may suspend or revoke a real estate license for all of the following causes EXCEPT
A) offering real estate for sale through a lottery. B) receiving an undisclosed commission from the buyer. C) placing a sign on real estate without written consent of the owner. D) failing to specify a definite termination date in a lease.
Who has the responsibility for marking "consumer note" on a promissory note used in a consumer transaction?
A) The vendor B) The bank C) The holder in due course D) third party receiving the note E) The purchaser