How is Disclosed Dual Agent defined in a legal contract?
- Disclosed Dual Agent means an agent who represents both parties in a real estate transaction with the informed consent of both parties and understood written duties towards each side. This could lead to conflicts of interest that cannot be resolved without a possible breach of duty to one party. This practice must be carried out with utmost care to protect all parties involved and to avoid inadvertent violations of legal standards. Seen in 12 SEC filings.
- Disclosed Dual Agent means an agent who is serving both the buyer and the seller in a real estate transaction. This agent must have written consent from both parties. Seen in 1 SEC filing.
- Disclosed Dual Agent means a licensed individual who, with the informed written consent of both parties, acts as an agent for both sides in a real estate deal. This agent cannot represent the interests of one party to the detriment of the other. The agent has full fiduciary duties to both parties, except for total disclosure and undivided loyalty. Specific details of the transaction, such as prices, cannot be disclosed unless directed otherwise in writing by the relevant party. Seen in 1 SEC filing.
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of disclosed dual agent' yourself to verify these results. We are always keen to point people to source documents.
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Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Disclosed Dual Agent means an agent formally serving both parties in a transaction, with each party's informed written consent and understood duties.
Relevant Contract Types
Relevant Circumstances
- Property purchase, sale or leasing transactions
- Business mergers or acquisitions
- Transactions involving dual representation
Relevant Sectors
Genie Definition 2
- Disclosed Dual Agent means a trusted representative of both sides in a trade, restricted in revealing specific transactional information unless instructed in written form by the respective party.
Relevant Contract Types
Relevant Circumstances
- Situations needing confidentiality or non-disclosure of particular transaction information
- Dual agency in business sales, property transactions or licensing deals
Relevant Sectors
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Disclosed Dual Agent means an agent formally serving both parties in a transaction, with each party's informed written consent and understood duties.
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