Under Ohio law, seller's agent Drew represents seller Lisa. During the transaction, Drew learns that the buyer intends to use the property for an illegal purpose after purchase. Under Ohio agency law, what should Drew do?
Correct Answer
C) Inform his client Lisa about the buyer's stated intentions, as this information could affect her decision to sell to this buyer, and recommend legal counsel
Under Ohio agency law, Drew's fiduciary duty to Lisa requires disclosing information that could affect her decision. A buyer's stated intention for illegal use is relevant to the seller's decision-making and potential liability. Drew should inform Lisa and recommend legal counsel.
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Related Topics & Key Terms
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Related Concepts
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.
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
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