Question

The Oklahoma Brokerage Relationships Act of 2013 provides that confidential information may not be disclosed without consent of the appropriate party. Confidential information includes:

a) that a party is willing to pay more or accept less than what is being offered.
b) the brokerage relationship between the parties.
c) specific information about vicarious liability.
d) material defects in the property.

Answer 1

The Oklahoma Brokerage Relationships Act of 2013 considers the willingness to pay more or accept less than the offered price as confidential information, which cannot be disclosed without consent. This aligns with legal principles of disclosure and transparency seen in other regulatory contexts.

Step-by-step explanation:

The Oklahoma Brokerage Relationships Act of 2013 states that confidential information may not be disclosed without consent. Confidential information includes situations where a party is willing to pay more or accept less than the listing price. This is to ensure that the integrity of the brokerage relationship is maintained, aligning with the notion of disclosure in various legal contexts, which entails sharing relevant information in an open manner. The act does not consider the existence of the brokerage relationship, specific information about vicarious liability, or material defects in the property as confidential information. Key attributes in this act reflect the industry's adherence to principles seen in other transparency and disclosure-related legal frameworks.