Discussion Question about Agent Duties
Discussion Question about Agent Duties
Details: This is another assignment to complete. Below you can see the titles for Unit 2 and Unit 3 and I need 1 page two paragraphs.
Unit 2 of your textbook about “The Law of Agency”
Unit 3 of your textbook about the “Duties and Responsibilities of Licensees“
All of you should read the discussion questions below and attempt to do it on your own. But only students whose last names begin with A-G are required to post their responses. The rest of you should make sure to check back a few days after the assignment is due to read my feedback and see if their answers were correct.
Now that you have read Units 2 and 3, WRITE ONE OR TWO PARAGRAPHS in response to the following discussion question for this week. Remember to reference any relevant statutes or caselaw on which you rely in drawing your conclusions for each problem.
1. A property was listed for sale at $100,000. An offer for $90,000 was accepted by the seller, but the sale failed because the prospective buyer could not obtain financing. The real estate listing agent later told another prospective buyer that the property could be purchased for less than its listed price. What, if any, are the problems with this scenario? Did the agent do anything wrong, and if so, what? (You can get up to 5 points for this answer, depending on how thorough and well written your answer is)
2. A broker suggested to a seller that a lead-paint based test be made because the home was built in 1860. The test was positive. While the seller completed the lead-paint disclosure form that referenced the report, the report was not given to the buyer. The broker, acting as a dual agent orally advised the buyers of the lead paint and the existence of the report, but the broker was not able to get the report from the sellers. However, it was provided at closing. A written disclosure of known lead based paint is required by the Residential Lead-Based Paint Hazards Reduction Act of 1992 and must be signed by the buyer. The act calls for treble damages when a person “knowingly” violates the statute. Was the broker’s oral disclosure adequate? (Since you are not responding on Canvas, you do not need to provide replies to classmates’ posts. Your answer will be worth 5 points. 2 points for whether you reached the correct conclusion to the question, and 3 for providing an explanation or analysis leading to your conclusion).
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