We appreciate your visit to Pete is a licensee and Myra is ready to sign an agency agreement with him Before that happens which of the following must Pete do. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Before Myra signs an agency agreement with Pete, Pete must disclose any material facts that could affect Myra's decision to enter into the agreement. Option C is the answer.
As a licensee, Pete has a duty to act in good faith and disclose any relevant information that could impact the transaction. This includes disclosing any conflicts of interest, potential risks, or other information that could influence Myra's decision-making process. By providing full and transparent disclosure, Pete ensures that Myra can make an informed decision about whether to proceed with the agency agreement.
Failure to disclose material facts could result in legal consequences, such as the agreement being voidable or Pete facing legal liabilities for nondisclosure. Therefore, it is essential for Pete to fulfill his disclosure obligations before Myra signs the agency agreement. Option C accurately reflects the necessary action Pete must take in this situation. The correct answer is option C.
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QUESTION
Pete is a licensee, and myra is ready to sign an agency agreement with him. before that happens, which of the following must pete do?
A) Pete must obtain a license to operate as an agent.
B) Pete must negotiate the terms of the agency agreement with Myra.
C) Pete must disclose any material facts that could affect Myra's decision to enter into the agreement.
D) Pete must provide references from previous clients to demonstrate his competence as an agent.
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