Donaldson LA License Law Questions & Answers 100% Correct!!
16 views 0 purchase
Course
Donaldson LA License Law
Institution
Donaldson LA License Law
In Louisiana, a "licensee" is - ANSWER-any person issued a license by the commission as a real estate salesperson.
-any person issued a license by the commission as a real estate broker.
Responding to a phone inquiry concerning the price of a property you have listed - ANSWERis a ministerial ac...
Donaldson LA License Law Questions & Answers
100% Correct!!
In Louisiana, a "licensee" is - ANSWER-any person issued a license by the commission as a real estate
salesperson.
-any person issued a license by the commission as a real estate broker.
Responding to a phone inquiry concerning the price of a property you have listed - ANSWERis a
ministerial act
Acting as a dual agent, licensees shall not disclose - ANSWER-confidential information about either
client.
-a price other than the listed price the seller may accept.
-the price the buyer is willing to pay.
Responding to an inquiry about the property's price at an open house - ANSWERis a ministerial act.
A dual agent in Louisiana must - ANSWERexplain closing costs and procedures.
If one client does not consent to dual agency in a Louisiana transaction, - ANSWERthe licensee must
give a written disclosure to both clients to receive a referral fee for the one withdrawing.
"Ministerial acts" in Louisiana law do not include - ANSWERwriting an offer to purchase real estate.
A licensee named by the broker as the agent of a client is the - ANSWERdesignated agent
Promoting the best interests of a person is a duty performed by a licensee representing the -
ANSWERclient
, A dual agent in Louisiana - ANSWERdoes not terminate any agency relationship by making the
required discloures.
In Louisiana Agency Law, the term "Broker" means - ANSWERany person licensed by the Louisiana
Real Estate Commission as a real estate broker.
In Louisiana, any agency relationship is determined to have been created by - ANSWERworking as a
designated agent.
A person who is not represented by, but for whom the licensee is performing ministerial acts is a -
ANSWERcustomer
A relationship in which a real estate broker or licensee represents a client by the client's consent in
an immovable property transaction is referred to as - ANSWERagency
When representing a client, licensees - ANSWERshall treat all customers honestly and fairly and may
perform ministerial acts.
One who engages the professional advice and services of a licenseeas his agent is a - ANSWERclient
If a licensee is not liable for false information provided by a customer - ANSWERit does not change
his duty as to misrepresentation of material information.
A licensee will not be liable to a customer for providing false information to the customer - ANSWERif
the licensee had actual knowledge the information was false.
A contractual relationship between a broker and a client under which one or more licensees affiliated
with the broker are designated as agents of the client is - ANSWERdesignated agency
A licensee is liable to a client for false information unless - ANSWER- the false information was
provided by a customer.
- the licensee did not know the information was false.
- the licensee should not have known the information was false.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller papersbyjol. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
