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Agency Law And Real Estate Brokerage, H. Glenn Boggs
Agency Law And Real Estate Brokerage, H. Glenn Boggs
University of Miami Business Law Review
The real estate brokerage industry in the United States has a significant liability exposure problem. The liability exposure arises from both the application of agency law principles and judicially imposed duties regarding treatment of parties opposite a broker's principal. If you think the foregoing characterization is extreme, examine at least the evidence presented here and then draw your own conclusions. The facts are convincing that the brokerage industry faces substantial problems in the area of agency affecting not only financial liability, but also public confidence. The intent of this article is to carefully identify the problems, marshal the facts, and …
A Reexamination Of The Agency Doctrine Of Election, Mark A. Sargent, Arnold Rochvarg
A Reexamination Of The Agency Doctrine Of Election, Mark A. Sargent, Arnold Rochvarg
University of Miami Law Review
The Restatement (Second) of Agency and several states provide that a third party suing an undisclosed principal and his agent must elect to take judgment against one, releasing the other from further liability. In contrast, when the existence of a principal but not his identity is disclosed at the time of agreement, a court may enter judgment against both the partially disclosed principal and his agent, releasing neither until the judgment is satisfied. The authors examine the theories and case law supporting the election doctrine in the light of public policy favoring complete disclosure. The authors conclude that a rule …