Under Ohio law, seller's agent Tina lists a property for seller Ray. After the property goes under contract, Tina discovers that she has a distant family relationship with the buyer that she was not previously aware of. Under Ohio agency law, what must Tina do upon this discovery?
Correct Answer
B) Immediately disclose the newly discovered relationship to her client Ray, document the disclosure, and allow Ray to decide whether to continue with the transaction
Under Ohio agency law, fiduciary duties are ongoing. When Tina discovers a potential conflict of interest, even after contract acceptance, she must disclose it to her client promptly. Ray can then make an informed decision about whether the relationship affects his confidence in Tina's representation.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
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