Who is an individual with whom a license holder has no agency relationship nor fiduciary duties, but to whom fairness and honesty are still required?

A customer is an individual with whom a license holder does not have an agency relationship or fiduciary duties, yet the license holder is still expected to treat them with fairness and honesty. This distinction is crucial in the law of agency, particularly in real estate and similar business contexts, where the nature of the relationship between the parties impacts the level of obligation.

While a client has certain rights and protections due to the agency relationship, a customer does not receive the same level of loyalty or care. However, license holders must still engage with customers ethically, ensuring that they are honest in their dealings and representations. This obligation helps maintain trust and integrity in business transactions, even when the customer does not have the same protections as a client.

Further, the other terms like principal and stakeholder imply a more active role in the agency relationship or involve additional responsibilities that do not apply to the situation with a customer. Understanding this distinction helps license holders navigate their responsibilities and establish the appropriate level of care based on the nature of their relationship with each party involved.