Accounts Payable:Agent:Accounts Receivable:Americans With Disabilities Act(ADA):Affinity Programs:Andragogy:Agency:Antitrust Laws:Agency Contracts:Arbitration:1a
a. One who acts for and with authority from another person, called theprincipal; a special agent is appointed to carry out a particular act ortransaction, and any other agent is a general agent. (Real Estate Principles,Real Estate Practice). b. A person authorized to act on behalf of the principaland who has fiduciary responsibilities to the principal. In a real estatetransaction, the broker is normally considered to be the agent of the principalor client. (Real Estate Brokerage). c. An individual who is legally empowered toact on behalf of another. (Property Management). d. One who representsanother in an agency relationship. (Real Estate Law) e. One who acts or has thepower to act for another. A fiduciary relationship is created under the law ofagency when a property owner executes a listing agreement or managementcontract authorizing a licensed real estate broker to be his or her agent. Aprospective property buyer may authorize a real estate broker to act as thebuyer's agent to find a suitable property. (Real Estate Economics).Liabilities that represent amountsowed to creditors, usually for goodsor services that were purchased.a. A federal law enacted to eliminate discrimination againstpeople with disabilities in employment, publicaccommodations, government services, public transportation,and communications. (Real Estate Brokerage). b. A law thatrequires that property that is open to the public includefeatures that facilitate access to the building. The ADA isdesigned to eliminate discrimination against individuals withdisabilities by providing equal access to jobs, publicaccommodations, government services, public transportation,and telecommunications. (Property Management).Claims against debtors, usually forgoods or services that weredelivered to the debtors.The process by which adults learn,which distinguishes the adultlearning process from the child's. Itrecognizes differences inapproaching and processing newinformation.Enticements such as coupons,discounts, and points used in marketingprograms to attract consumers bygiving them increased purchasingpower for a wide range of productsand services. Also known as crossmarketing programs.a. Laws designed to preserve free enterprise of the open marketplaceby making illegal certain private conspiracies and combinationsformed to minimize competition. Most violations of antitrust laws inthe real estate business involve either price-fixing (brokers ormanagers agreeing to set fixed compensation rates) or allocation ofcustomers or services (brokers or managers agreeing to limit theirareas of trade or dealing to certain areas or properties). (PropertyManagement) b. Federal and state laws enacted for the purpose offostering competition and preventing anticompetitive practices.