Which types of agency relationships does Kentucky recognize?
Correct Answer
B) Seller's agent, buyer's agent, dual agent, and transaction broker (limited agent)
Kentucky recognizes seller agency, buyer agency, dual agency, and limited agency (transaction brokerage) relationships under KRS Chapter 324.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
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.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
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