Oregon Real Estate Lecture 13 : Common
Law: Principal's Duties to the Agent &
Principal and Agent Liability on Contract
Exam | Questions with 100% Correct
Answers | Verified | Latest Update
2026/2027
Save
Terms in this set (23)
The duty of ___________, requires loyalty
that an agent must, act at all
times solely in the best
interests of their principal to
the exclusion of all other
interests, including the agent's
own self-interest. Take no
action that is adverse or
detrimental to their principal's
interest in the transaction. And
not take advantage or make
personal profit from any
confidential information.
, The duty of _____________, requires obedience
the agent to obey any lawful
instructions from the principal.
The agent however, has no
obligation to obey unlawful
instructions, and, if necessary
must terminate the agency
relationship if asked to
perform an unlawful act.
A real estate agent has a duty reasonable skill and care
to exercise ____________________, in
performing duties on behalf of
the principal. A licensee will
not be able to escape
responsibility by claiming
ignorance of acceptable
standards of conduct or
because they might be new to
the industry. An agent with
one day experience is
considered no different than
an agent with 20 years of
experience.
Law: Principal's Duties to the Agent &
Principal and Agent Liability on Contract
Exam | Questions with 100% Correct
Answers | Verified | Latest Update
2026/2027
Save
Terms in this set (23)
The duty of ___________, requires loyalty
that an agent must, act at all
times solely in the best
interests of their principal to
the exclusion of all other
interests, including the agent's
own self-interest. Take no
action that is adverse or
detrimental to their principal's
interest in the transaction. And
not take advantage or make
personal profit from any
confidential information.
, The duty of _____________, requires obedience
the agent to obey any lawful
instructions from the principal.
The agent however, has no
obligation to obey unlawful
instructions, and, if necessary
must terminate the agency
relationship if asked to
perform an unlawful act.
A real estate agent has a duty reasonable skill and care
to exercise ____________________, in
performing duties on behalf of
the principal. A licensee will
not be able to escape
responsibility by claiming
ignorance of acceptable
standards of conduct or
because they might be new to
the industry. An agent with
one day experience is
considered no different than
an agent with 20 years of
experience.
