Respondeat Superior
Definition of "Respondeat superior"
term used in law stating 'allow the principal to respond'. An owner of property is legally liable for the improper actions of an agent representing him if it is within the scope of the duties reasonably expected to be performed. For example, a landlord may be held accountable for injury to prospective homeowners when the agent gets into an automobile accident showing them around to different apartment buildings.
Popular Real Estate Terms
Written statement of the lender that the buyer of real estate has paid-off the entire mortgage. ...
Concrete with steel rods inserted into it to provide additional working load support. The premise is that both materials will act together in resisting loan stress. ...
Self-employed contractor who may perform work on a structure such as residential or commercial property. ...
Are you ready to unlock the secret to reaching your ideal audience? The key is market delineation! But what what does delineate mean? Join us on this real estate journey and uncover the ...
A rule that the price of a house should not exceed about 2 to 2.5 times your family's gross annual earnings. Example : If annual gross income is $70,000, the highest price one could afford ...
Residential or commercial building of two or more floors that can only be accessed through stairs. It is more common in urban areas. ...
Condition that affects the probability of losses or perils occurring. An example is possible earthquake or flood damage to a house. ...
To obtain the right through authorization to act as a legal representative and agent for another. ...
A portion of a real estate company's assets financed with debt instead of equity. It involves interest an principal obligations. Financial leverage is beneficial to real estate investors ...
Have a question or comment?
We're here to help.