Flash Cards - Real Estate Brokerage.pdf - Accounts Payable Agent Accounts Receivable Americans With Disabilities Act(ADA Affinity Programs Andragogy

Flash Cards - Real Estate Brokerage.pdf - Accounts Payable...

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Accounts Payable: Agent: Accounts Receivable: Americans With Disabilities Act (ADA): Affinity Programs: Andragogy: Agency: Antitrust Laws: Agency Contracts: Arbitration: 1a
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a. One who acts for and with authority from another person, called the principal; a special agent is appointed to carry out a particular act or transaction, and any other agent is a general agent. (Real Estate Principles, Real Estate Practice). b. A person authorized to act on behalf of the principal and who has fiduciary responsibilities to the principal. In a real estate transaction, the broker is normally considered to be the agent of the principal or client. (Real Estate Brokerage). c. An individual who is legally empowered to act on behalf of another. (Property Management). d. One who represents another in an agency relationship. (Real Estate Law) e. One who acts or has the power to act for another. A fiduciary relationship is created under the law of agency when a property owner executes a listing agreement or management contract authorizing a licensed real estate broker to be his or her agent. A prospective property buyer may authorize a real estate broker to act as the buyer's agent to find a suitable property. (Real Estate Economics). Liabilities that represent amounts owed to creditors, usually for goods or services that were purchased. a. A federal law enacted to eliminate discrimination against people with disabilities in employment, public accommodations, government services, public transportation, and communications. (Real Estate Brokerage). b. A law that requires that property that is open to the public include features that facilitate access to the building. The ADA is designed to eliminate discrimination against individuals with disabilities by providing equal access to jobs, public accommodations, government services, public transportation, and telecommunications. (Property Management). Claims against debtors, usually for goods or services that were delivered to the debtors. The process by which adults learn, which distinguishes the adult learning process from the child's. It recognizes differences in approaching and processing new information. Enticements such as coupons, discounts, and points used in marketing programs to attract consumers by giving them increased purchasing power for a wide range of products and services. Also known as cross marketing programs. a. Laws designed to preserve free enterprise of the open marketplace by making illegal certain private conspiracies and combinations formed to minimize competition. Most violations of antitrust laws in the real estate business involve either price-fixing (brokers or managers agreeing to set fixed compensation rates) or allocation of customers or services (brokers or managers agreeing to limit their areas of trade or dealing to certain areas or properties). (Property Management) b. Federal and state laws enacted for the purpose of fostering competition and preventing anticompetitive practices.
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