Under Ohio law, if a seller becomes mentally incapacitated during the term of a listing agreement, the listing agreement:
Correct Answer
D) Terminates because the principal can no longer provide informed consent or direction
Under Ohio agency law, mental incapacity of the principal generally terminates the agency relationship because the principal can no longer provide informed consent or direction to the agent.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
More Oh Agency Questions
Under Ohio law, buyer's agent Will represents client Amy. Amy asks Will to hold her $10,000 earnest money deposit. Under Ohio law, what must Will do with the deposit?
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