A closing coordinator in Winston-Salem is checking a study outline on buyer agency agreements and the written-agreement deadline. Which statement is NOT accurate under current North Carolina law?
Correct Answer
B) A nonexclusive buyer agency agreement is impossible in North Carolina under current North Carolina rules
This choice is the inaccurate statement. The other three options describe the current North Carolina rule or guidance more accurately.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
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.
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