Under Ohio agency law, which of the following is NOT a fiduciary duty owed by a licensee to their client?
Correct Answer
D) Ensuring the opposing party negotiates in good faith
A licensee cannot control or be held responsible for the opposing party's conduct in negotiations. Ensuring good faith from a third party is not a fiduciary duty owed to a client under Ohio agency law. The recognized fiduciary duties are loyalty, confidentiality, obedience, disclosure, accounting, and reasonable care — all of which relate to the licensee's own conduct toward their client.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
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Previous Question
Licensee George is a seller's agent. During negotiations, the buyer's agent accidentally emails George confidential information about the buyer's maximum budget. Under Ohio agency law, what should George do?
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Under Ohio law, dual agency requires the informed written consent of: