Under Mississippi agency law, a seller's agent owes fiduciary duties to the seller client. Which of the following is NOT a fiduciary duty that a Mississippi seller's agent owes to the seller?
Correct Answer
D) Advocacy for the buyer's financial interests to ensure a fair transaction outcome
A Mississippi seller's agent owes fiduciary duties exclusively to the seller, not to the buyer. Advocating for the buyer's financial interests is not a duty owed by a seller's agent — in fact, it would be a breach of the agent's duty of loyalty to the seller. The seller's agent owes the buyer only honesty, fair dealing, and disclosure of known material facts, not advocacy or promotion of the buyer's financial interests.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
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