Under Tennessee law, dual agency occurs when a licensee or firm represents which of the following?
Correct Answer
A) Both the buyer and the seller in the same real estate transaction
Under Tenn. Code Ann. § 62-13-401 et seq., dual agency arises when a single licensee or firm represents both the buyer and the seller in the same transaction. Tennessee law permits this arrangement only with written informed consent from both parties.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
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