Connecticut salesperson Marco is representing seller Yvonne. After the listing agreement is signed, Yvonne tells Marco that she has received a verbal offer from a neighbor who is interested in buying the property. Yvonne asks Marco to keep this information confidential and not to mention it to any prospective buyers. Which of the following statements is most accurate under Connecticut agency law?
Correct Answer
B) Marco should follow Yvonne's instruction and keep the verbal offer confidential, as it is Yvonne's private negotiating information
Marco should follow Yvonne's instruction and keep the verbal offer confidential. The existence of a verbal offer from a neighbor is Yvonne's private negotiating information, and the duty of confidentiality requires Marco to protect information that Yvonne does not want disclosed to third parties. Additionally, the duty of obedience requires Marco to follow Yvonne's lawful instruction. This is a lawful instruction that does not require Marco to deceive anyone or violate any law. Yvonne has not yet accepted or rejected the verbal offer, and it remains her private business.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
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