In South Dakota, the agency disclosure form must be presented to a prospective buyer or seller:
Correct Answer
B) At the first substantive contact
South Dakota requires that the agency disclosure form be presented at the first substantive contact with a prospective buyer or seller, so parties understand the agent's role before any meaningful discussions occur.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
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In Vermont, a licensee owes fiduciary duties to a client. Which statement is correct?
- → A Vermont licensee is asked about a designated agency firm appoints separate agents for buyer and seller. What is the best answer?
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