Under Ohio law, the death of a seller who is a party to a listing agreement generally causes the listing agreement to:
Correct Answer
B) Terminate, because agency is a personal relationship that ends upon death of the principal
Under Ohio agency law, an agency relationship is personal in nature and generally terminates upon the death of the principal (seller). The listing agreement does not automatically bind the estate.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
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.
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