Law of Agency Champions 1960
Houston TX Answered
Client
Principal-agency relationship-in writting.
Special agency
Also known as Limited Agency
General Agency
The right to represent the principal in a particular type of transaction.
Ostensible Agency
Actions that lead another person to assume that one is an agent.
Agency of Ratification
An agent acts without proper auth. And when principal learns this they accept it.
Agency of Estoppel
When principal inadequately supervises an agent.
Fiduciary
Trust
Universal agency
Broad range of authority to act for a principal.
Express Authority
Stated or written instruction from the principal to the agent.
Implied Authority
Agent authority or rights considered the "norm".
Agency coupled with an interest
When the broker is the owner of a property being sold or when interested in it for self purposes.
Fiduciary duties to client
3 types of agency
TRELA
The agent must always remain loyal to whom?
Houston TX Answered
Client
Principal-agency relationship-in writting.
Special agency
Also known as Limited Agency
General Agency
The right to represent the principal in a particular type of transaction.
Ostensible Agency
Actions that lead another person to assume that one is an agent.
Agency of Ratification
An agent acts without proper auth. And when principal learns this they accept it.
Agency of Estoppel
When principal inadequately supervises an agent.
Fiduciary
Trust
Universal agency
Broad range of authority to act for a principal.
Express Authority
Stated or written instruction from the principal to the agent.
Implied Authority
Agent authority or rights considered the "norm".
Agency coupled with an interest
When the broker is the owner of a property being sold or when interested in it for self purposes.
Fiduciary duties to client
3 types of agency
TRELA
The agent must always remain loyal to whom?
