(1) A client, as defined in this chapter, whether buyer or seller, shall not be liable for a wrongful act, error, omission or misrepresentation of his broker or his broker’s licensees unless the client had actual knowledge of or reasonably should have known of the wrongful act, error, omission or misrepresentation.
(2) A licensee or brokerage engaged in representation of a client shall be entitled to rely upon representations made by a client and shall not be liable for a wrongful act, error, omission or misrepresentation made by the client unless the licensee or brokerage had actual knowledge or reasonably should have known of the wrongful act, error, omission or misrepresentation.
(3) Nothing in this section shall be construed to diminish or limit any of the broker’s or licensee’s responsibilities under chapter 20, title 54, Idaho Code, or the rules promulgated thereunder.