Under Ohio law, a seller's agent who receives an offer after the seller has already accepted another offer must do all of the following EXCEPT:
Correct Answer
A) Accept the second offer on the seller's behalf to create a bidding war
A seller's agent cannot accept any offer on behalf of the seller without the seller's explicit authorization. Creating a bidding war by accepting a second offer would violate the duty of obedience and potentially create legal complications from two accepted contracts.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
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