Jennifer is a Delaware licensee representing buyer David in his search for a home. David finds a property listed by Jennifer's own brokerage. Jennifer's broker proposes that Jennifer serve as a disclosed dual agent for this transaction. David verbally agrees and says he is comfortable with the arrangement. Under Delaware law, is this dual agency arrangement properly established?
Correct Answer
C) No, because dual agency requires informed written consent from all parties under Delaware law
Under 24 Del. C. § 2973, Delaware law requires informed written consent from ALL parties before a disclosed dual agency arrangement can be established. Verbal consent, no matter how clear, is insufficient. Both the buyer (David) and the seller must provide written consent acknowledging the dual agency relationship and its implications.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
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