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Under Ohio agency law, licensee Hank represents seller Diane. Buyer Luis submits an offer well below asking price. Hank personally believes the offer is too low. What is Hank's obligation?

Correct Answer

C) Hank must present the offer to Diane promptly, regardless of his personal opinion about the price

Under Ohio law, a licensee must present all offers to the client promptly. The decision to accept, reject, or counter an offer belongs solely to the client. Hank's personal opinion about the offer's value does not authorize him to withhold or delay it.

Answer Options
A
Hank may reject the offer on Diane's behalf if he believes it is unreasonable
B
Hank should advise Luis to increase his offer before presenting it to Diane
C
Hank must present the offer to Diane promptly, regardless of his personal opinion about the price
D
Hank should wait 48 hours to see if a better offer arrives before presenting Luis's offer

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Related Topics & Key Terms

Key Terms:

present_all_offersseller_agentfiduciary_dutyclient_decisionORC_4735
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