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General Principles Of AgencyFiduciary DutiesMEDIUM

A fiduciary relationship exists between:

Correct Answer

B) An agent and their principal

A fiduciary relationship exists between an agent and their principal. The agent owes the principal the highest duties of loyalty, obedience, disclosure, confidentiality, accounting, and reasonable care.

Answer Options
A
Any two parties in a transaction
B
An agent and their principal
C
The buyer and seller only
D
The lender and borrower
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Related Topics & Key Terms

Related Topics:

agency-relationshipsdual-agencydisclosure-requirementsagency-disclosure-laws

Key Terms:

fiduciary relationshipagent and principalOLDCAR dutiesagency lawduty of loyalty
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