A Missouri broker advertises a property as having 2,400 square feet of finished living space, but the actual finished area is only 1,950 square feet. A buyer relies on this figure and closes on the purchase. Which government authority has the primary power to bring an enforcement action against the broker under the Missouri Merchandising Practices Act?
Correct Answer
A) The Missouri Attorney General
The Missouri Merchandising Practices Act, RSMo § 407.010 et seq., is enforced by the Missouri Attorney General. The Attorney General has authority to investigate and bring civil enforcement actions against individuals and businesses engaged in deceptive or misleading practices in the sale of real estate, including false advertising of property characteristics such as square footage.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
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