Nora and Owen Do Business as Property & Profit, a Real

question 15

Multiple Choice

Nora and Owen do business as Property & Profit, a real estate investment partnership. In acting on the firm's behalf, Nora takes advantage of an opportunity to make a secret profit. To her firm, Nora is liable for a breach of

• A)the duty of care.
• B)contract.
• C)the duty of loyalty.
• D)none of the choices.

Understand the concept of trade discount and calculate the net price and trade discount amount.

Calculate the rate of trade discount.

Compare prices from different sources taking into account trade discounts to determine the least expensive option.

Calculate real estate net proceeds and determine the listing or selling price based on commission and net proceeds.

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