Final answer:
The duties and liabilities of a licensee for information disclosed by the seller.
Step-by-step explanation:
When a seller discloses information to a buyer, the licensee has certain duties and liabilities.
The duties of the licensee include accurately representing the information disclosed and not misleading the buyer. They are also responsible for maintaining the confidentiality of the information.
In terms of liabilities, if the licensee fails to fulfill their duties, they may be held liable for any damages caused to the buyer.
For example, if a real estate agent discloses that a house has a newly renovated kitchen, but it turns out that the kitchen has not been renovated, the buyer may have a claim against the agent for misrepresentation.
It's important for the licensee to exercise due diligence and ensure the accuracy of the information they disclose to avoid potential legal consequences.