In Connecticut, the fiduciary duty of confidentiality obligates a licensee representing a seller to protect which type of information from being disclosed to the buyer without the seller's consent?
Correct Answer
B) The seller's motivation for selling and the lowest price the seller will accept
The fiduciary duty of confidentiality requires a Connecticut licensee representing the seller to keep confidential any information that could weaken the seller's negotiating position, most critically the seller's motivation for selling and the minimum price the seller will accept. Disclosing this information to the buyer without authorization would constitute a breach of fiduciary duty under Connecticut agency law.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
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