Which of the following is NOT a fiduciary duty owed by a Vermont agent?
Correct Answer
C) Guaranteeing the property will pass inspection
Agents owe duties of loyalty, confidentiality, obedience, disclosure, accounting, and reasonable care. They never guarantee outcomes such as passing inspections or sale prices.
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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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