Sec. 16. (a) A client is not liable for any misrepresentation made by a licensee in connection with the agency relationship, unless the client knew or should have known of the misrepresentation.

lawyer at desk

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 25-34.1-10-16

  • agency relationship: means a relationship in which a licensee represents a client in a real estate transaction. See Indiana Code 25-34.1-10-0.5
  • client: means a person who has entered into an agency relationship with a licensee. See Indiana Code 25-34.1-10-5
  • licensee: means an individual or entity issued a broker's real estate license by the Indiana real estate commission. See Indiana Code 25-34.1-10-6.8
     (b) A licensee is not liable for any misrepresentation made by another licensee, unless the licensee knew or should have known of the other licensee’s misrepresentation.

As added by P.L.128-1994, SEC.6. Amended by P.L.130-1999, SEC.21.

  Previous section
Next section  
 Chapter 10 Contents