Under Nevada law, a limited dual agent is prohibited from performing certain duties that a single agent would owe to a client. Which of the following is NOT a duty that is restricted or eliminated when a Nevada licensee acts as a limited dual agent?
Correct Answer
C) Presenting all written offers and counteroffers to the appropriate party promptly
Under NRS 645.255, the duty to present all written offers and counteroffers promptly is NOT restricted in a limited dual agency — it remains fully intact. The licensee must continue to transmit all offers and counteroffers faithfully to both parties. This duty is explicitly preserved even when acting as a limited dual agent.
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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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