Under Ohio law, an agent who represents only the buyer in a transaction and owes fiduciary duties exclusively to the buyer is acting as a:
Correct Answer
C) Buyer's agent
Under ORC §4735.62, a buyer's agent represents only the buyer and owes fiduciary duties exclusively to the buyer, including loyalty, confidentiality, obedience, disclosure, accounting, and reasonable care.
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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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