Author Question: Hill contacted Caccamo, a real estate agent, about purchasing a condo for investment purposes in the ... (Read 145 times)

bio_gurl · **on:** Jun 24, 2018

Hill contacted Caccamo, a real estate agent, about purchasing a condo for investment purposes in the Shaker Heights area. Hill eventually bought a condominium through Caccamo, but did not learn until after closing that rental of the units was controlled by the condominium board and the board refused to allow Caccamo to rent out the condo. Which of the following is an accurate description of Caccamo's responsibility to Hill?
A) It is Hill's responsibility to determine any restrictions on the leasing of property before buying that property.
B) Caccamo had a responsibility to let Hill know of the restriction because she had told him she was buying for investment purposes.
C) If Hill was given a copy of the CCRs at closing, then Caccamo has no responsibility or liability for the failure to disclose the restriction.
D) Caccamo's responsibility and liability depends on whether he was a dual agent.

Question 2

The known user rule imposes liability on the accountant for malpractice when he can foresee the parties who will rely on his work in the financial statements.
Indicate whether the statement is true or false