Chapter 7 REAL AGENCY

Which of the following types of contracts must have a specific termination date?

Buyer representation agreements, listing agreements, and property management agreements

Which of the following is NOT a recognized way for an agency relationship to be terminated?

Marriage of the principal

Delegation of authority by a client and acceptance of that authority by the agent

are the core requirements to create an express agency relationship.

The TRELA mandates that all agency agreements must include a(n)

definite termination date.

A broker allows her sales associates to list their own homes through the brokerage without charging the usual listing compensation paid by the seller to the listing broker. The broker does, however, charge for the compensation to be paid to the cooperating broker. This type of agency is

gratuitous agency.

Under the Texas Deceptive Trade Practices Act, an innocent misrepresentation

is also actionable.

An agency relationship would NOT be terminated by

marriage of the principal.

Mutual agreement to terminate a written agency agreement

must be in writing.

Broker A, representing the seller, receives an inspection report from Broker B, the buyer s broker. The report reveals that the heat exchanger is defective. Which of the following is true?

Once Broker A received the report from Broker B, the seller has imputed notice of the existence of the reported defect.

In order to create an agency relationship in a real estate transaction, which of the following is true? To create an agency relationship,

there must be express mutual consent, either oral or written, between the parties to establish an agency relationship. However, the consent may be deemed by the court to be implied if not expressed.