A transaction coordinator in Carrboro is answering a client question about WWREA at first substantial contact. Which statement best applies under current North Carolina law?
Correct Answer
A) The WWREA brochure is a North Carolina agency disclosure tool, not a substitute for the later written agency agreement required in some relationships.
The WWREA brochure is a North Carolina agency disclosure tool, not a substitute for the later written agency agreement required in some relationships.
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Related Topics & Key Terms
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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