Which of the following duties does a licensee owe to ALL parties in a transaction, including non-clients?
Correct Answer
C) Honesty and fair dealing with the party
Under Delaware law, a licensee owes honesty and fair dealing to ALL parties in a transaction, including those who are not the licensee's client. Loyalty, obedience, and confidentiality are fiduciary duties owed exclusively to the licensee's client, not to all parties.
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Related Topics & Key Terms
Related Topics:
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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