John McKnight, the real estate broker who owns the real estate brokerage, Homes4Sale, Inc., has contacted your law firm for additional services. He is concerned about potential liability that he and Homes4Sale may face as a result of actions of agents (Independent Contractors hired by him) affiliated with the brokerage.
Conduct legal research in the LEXIS/NEXIS database to determine the types of liability risks that real estate brokers could be subject to for the actions of real estate agents in their firm. Draft an indemnity agreement that Homes4Sale, Inc., could use to require its agents to execute in order to receive indemnification from them and mitigate these risks. Use the City of Plano in the State of Illinois as the place of contract.
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