Under New Hampshire law, which agency relationship is created when a licensed NH salesperson enters into a written agreement to represent a buyer in the purchase of residential property?
Correct Answer
A) Buyer's agency
When a licensed NH salesperson enters into a written agreement to represent a buyer, a buyer's agency relationship is created under RSA 331-A:25-b. The salesperson becomes the buyer's agent, owing fiduciary duties to the buyer, including loyalty, confidentiality, disclosure of material facts, obedience to lawful instructions, and reasonable care.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
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