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
Used to indicate what is included in a monthly payment on rental property. If the payment includes only principal and interest, property taxes, and hazard insurance would make the total ...
Changes occurring in neighborhoods over time. The neighborhood life cycle includes the phases of birth, early growth, maturity, and decline. Not all neighborhoods pass through them more ...
Land expansion resembling a star. The starts center is the city, and major thoroughfares going away from the city are depicted. ...
The term statute is a written law that is adopted by a legislative body from the country, federal, state, county, or city level. The statute definition can be a legislative written decree ...
Regulatory rules that have to be followed by the organization in conducting its activities. ...
Across the globe, countries have comprehensive antitrust laws that protect customers and ensure the orderly conduct of businesses. Through antitrust laws, the playing field is balanced for ...
As the term “servient” comes from the root word “serve” and to serve means to perform a duty or a service for another entity, its meaning is easy to define. The term ...
The right to recover property taken away by foreclosure by paying the lender the total amount owed plus foreclosure costs. The right of a debtor in bankruptcy to recover personal ...
Fence constructed at the property line or other division point separating a subdivision or a home site. It marks the point of separation between two separate properties. ...

Have a question or comment?
We're here to help.