State Codes and Statutes

Statutes > Wisconsin > 452 > 452.139

452.139

452.139 Changes in common law duties and liabilities of brokers and parties.

452.139(1)

(1) Common law duties of broker. The duties of a broker specified in this chapter or in rules promulgated under this chapter shall supersede duties or obligations under common law to the extent that those common law duties or obligations are inconsistent with the duties specified in this chapter or in rules promulgated under this chapter.

452.139(2)

(2) Misrepresentation by broker.

452.139(2)(a)

(a) A client is not liable for a misrepresentation made by a broker in connection with the broker providing brokerage services, unless the client knows or should have known of the misrepresentation or the broker is repeating a misrepresentation made to him or her by the client.

452.139(2)(b)

(b) A broker who is providing brokerage services to a client and who retains another broker to provide brokerage services to that client is not liable for a misrepresentation made by the other broker, unless the broker knew or should have known of the other broker's misrepresentation or the other broker is repeating a misrepresentation made to him or her by the broker.

452.139(2)(c)

(c) Nothing in this subsection limits the liability of a broker under s. 452.12 (3) for misrepresentations made by an employee who is a broker. Nothing in this subsection limits the liability of a client for a misrepresentation that the client makes in connection with brokerage services.

452.139 - ANNOT.

History: 1993 a. 127; 2001 a. 16; 2005 a. 87.

452.139 - ANNOT.

Cross Reference: See also ch. RL 24, Wis. adm. code.

State Codes and Statutes

Statutes > Wisconsin > 452 > 452.139

452.139

452.139 Changes in common law duties and liabilities of brokers and parties.

452.139(1)

(1) Common law duties of broker. The duties of a broker specified in this chapter or in rules promulgated under this chapter shall supersede duties or obligations under common law to the extent that those common law duties or obligations are inconsistent with the duties specified in this chapter or in rules promulgated under this chapter.

452.139(2)

(2) Misrepresentation by broker.

452.139(2)(a)

(a) A client is not liable for a misrepresentation made by a broker in connection with the broker providing brokerage services, unless the client knows or should have known of the misrepresentation or the broker is repeating a misrepresentation made to him or her by the client.

452.139(2)(b)

(b) A broker who is providing brokerage services to a client and who retains another broker to provide brokerage services to that client is not liable for a misrepresentation made by the other broker, unless the broker knew or should have known of the other broker's misrepresentation or the other broker is repeating a misrepresentation made to him or her by the broker.

452.139(2)(c)

(c) Nothing in this subsection limits the liability of a broker under s. 452.12 (3) for misrepresentations made by an employee who is a broker. Nothing in this subsection limits the liability of a client for a misrepresentation that the client makes in connection with brokerage services.

452.139 - ANNOT.

History: 1993 a. 127; 2001 a. 16; 2005 a. 87.

452.139 - ANNOT.

Cross Reference: See also ch. RL 24, Wis. adm. code.

State Codes and Statutes

State Codes and Statutes

Statutes > Wisconsin > 452 > 452.139

452.139

452.139 Changes in common law duties and liabilities of brokers and parties.

452.139(1)

(1) Common law duties of broker. The duties of a broker specified in this chapter or in rules promulgated under this chapter shall supersede duties or obligations under common law to the extent that those common law duties or obligations are inconsistent with the duties specified in this chapter or in rules promulgated under this chapter.

452.139(2)

(2) Misrepresentation by broker.

452.139(2)(a)

(a) A client is not liable for a misrepresentation made by a broker in connection with the broker providing brokerage services, unless the client knows or should have known of the misrepresentation or the broker is repeating a misrepresentation made to him or her by the client.

452.139(2)(b)

(b) A broker who is providing brokerage services to a client and who retains another broker to provide brokerage services to that client is not liable for a misrepresentation made by the other broker, unless the broker knew or should have known of the other broker's misrepresentation or the other broker is repeating a misrepresentation made to him or her by the broker.

452.139(2)(c)

(c) Nothing in this subsection limits the liability of a broker under s. 452.12 (3) for misrepresentations made by an employee who is a broker. Nothing in this subsection limits the liability of a client for a misrepresentation that the client makes in connection with brokerage services.

452.139 - ANNOT.

History: 1993 a. 127; 2001 a. 16; 2005 a. 87.

452.139 - ANNOT.

Cross Reference: See also ch. RL 24, Wis. adm. code.

Categories