Respondeat Superior
Definition of "Respondeat superior"
term used in law stating 'allow the principal to respond'. An owner of property is legally liable for the improper actions of an agent representing him if it is within the scope of the duties reasonably expected to be performed. For example, a landlord may be held accountable for injury to prospective homeowners when the agent gets into an automobile accident showing them around to different apartment buildings.
Popular Real Estate Terms
(1) Mildly convex arch built into a load bearing beam, girder, or truss to counteract any load bearing stress placed on it. (2) Slight slope designed into a structure such as a drive4way or ...
Provision in a mortgage that requires the final payment to be substantially more than all other payments. ...
Natural resource, such as oil, coal, and timber, having a limited useful life and subject to depletion. Such assets decrease in worth primarily due to the extraction of the valued commodity ...
A purchase of real property made on account. Loan extended to business or individuals to buy real estate. In taxation, a dollar-for-dollar reduction in taxes. An example of a tax ...
Term indicating a resemblance or analogous to a legal classification. For example, a quasi corporation, quasi contract, quasi possession, quasi offense. ...
Group of investors pooling their money to purchase real estate. ...
A capitalized expenditure usually extending the useful life of a building or improving it in some manner over and above the original condition. In contrast, a maintenance or repair expense ...
Financial standing of a debtor as a basis to pay obligations. ...
Business entity providing water services in a particular locality. ...
Have a question or comment?
We're here to help.