Reese Richardson manages a 40-unit apartment building for the owner, hires repair vendors, collects rents, and handles routine leasing within the authority granted. What type of agent is Reese Richardson?
Correct Answer
C) General agent
General agent is correct because the facts match an agent authorized to handle a broad range of ongoing acts for the principal within a particular area of activity. That is the best description of the relationship, right, or legal concept tested here.
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Previous Question
An owner agrees to pay the manager 8% of monthly collected rent for overseeing the building. What is this compensation called?
Next Question
Reese Richardson gives Logan Foster an earnest money check, and Logan Foster promptly deposits it in the proper trust account and keeps accurate records. Which fiduciary duty is this?