Which of the Following Statements Is True with Regard to an Agent's

question 69

Multiple Choice

Which of the following statements is true with regard to an agent's duties?

• A) A real-estate agent may buy property from a third party if it is at a good price and then sell the property to his principal at a higher price.
• B) An agent is not entitled to the agreed-upon commission and reasonable expenses undertaken on behalf of his principal in carrying out his duties.
• C) An agent cannot act for two principals even with the knowledge and consent of those principals.
• D) An agent must always scrupulously account for moneys coming into his hands on behalf of his principal.
• E) An agent need not disclose all relevant information to the principal.

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Definitions:

Chesapeake Families

Refers to the socio-economic structures and family systems predominant in the Chesapeake Bay region during the colonial and early American periods.

Seventeenth-Century

The period of time from the year 1601 to 1700, marking the 17th century in the Gregorian calendar.

Cash Crops

Agricultural products grown primarily for sale to generate revenue rather than for personal use or sustenance.

Material Possessions

Items of physical property owned by individuals or groups, including things like homes, cars, and personal belongings.