In terms of the scope of authority granted, what are the three classifications of agency?

Question

Certilyst · Accepted Answer

A Rationale: The three classifications of agency are special, general, and universal. These classifications define the extent of authority an agent has in representing a principal.

A special agency grants the agent authority to act on behalf of the principal in specific transactions, while general agency allows for broader authority over a range of matters. Universal agency, on the other hand, provides the agent with full authority to act on behalf of the principal in all matters.

Choice B, special, general, and complete, is incorrect because "complete" is not a recognized classification of agency.

Choice C, special, implied, and universal, is wrong since "implied" does not serve as a classification of agency; it refers to how authority may be inferred from actions.

Choice D, implied, general, and universal, is incorrect because it includes "implied," which is not a formal classification in agency law.

Virginia Real Estate Exam

In terms of the scope of authority granted, what are the three classifications of agency?