medium · National Real Estate Exam
A buyer deals with an individual who claims to be the exclusive agent for a new subdivision. The individual has an office on-site and uses the developer's official forms, but in reality, they were never hired. The developer is aware of the individual's presence and use of the office but does nothing. If the buyer sues to enforce a contract signed with this individual, the developer is likely liable under:
- Implicit authority
- Ostensible authority
- The doctrine of Caveat Emptor
- Actual authority
Sign up free to see the explanation and track your rank →
More National Real Estate Exam practice
- A broker's employment contract with a seller is officially called the:
- What is the current status of the contract?
- A buyer defaults on a purchase agreement, and the seller chooses to keep the earnest money
- A buyer makes a written offer to a seller. Two days later, before the seller has responded
- A contract for the sale of a property is signed. Before closing, the property is destroyed
- A contract for the sale of real estate that has been signed by both parties is valid, but
- A contract that is valid and binding but allows one party to avoid the agreement because o
- A contract that is valid and enforceable until it is canceled by a party who was a victim