Question

This form of agency is created when represents both parties in a single transaction.

1.) Dual agency
2.) Sub agency
3.) Single agency
4.) Designated agency

Answer 1

The student's question pertains to the form of agency where one representative is involved on both sides of a transaction, which is known as dual agency.

Step-by-step explanation:

The form of agency created when one representative or agent works on behalf of both parties in a single transaction is known as dual agency. A dual agency can occur in real estate transactions where an agent may represent both the seller and the buyer, which often requires explicit consent from all parties due to potential conflicts of interest inherent in such arrangements. In the context of Forms of Business Organizations, understanding the different agency types is crucial for professionals engaging in partnerships, corporations, or transactions within various business models.