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National 4

N4 Chapters

Agency relationship created when one person hires another to act on their behalf
Fiduciary duties C Confidentiality A Accounting R Reasonable skill and care L Loyalty O Obedience D Disclosure
Agents duties to customers (5) fairness honesty good faith competency disclosure
Expressed agency created/understood by specific auth. from principal
Implied agency created through actions/statements
Subagent appointed by broker to work for client consumer ->broker ->salesperson client -> agent -> sub-agent
Ways to terminate an agency performance mutual agreement expiration of term revocation by principal or agent destruction of property bankruptcy of principal death/incapacity of principal or broker
Created by: bronny