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General Principles Of AgencyFiduciary_dutiesEASY

Daniel Chen gives Ethan Price an earnest money check, and Ethan Price promptly deposits it in the proper trust account and keeps accurate records. Which fiduciary duty is this?

Correct Answer

B) Accountability

Accountability is correct because the facts match the fiduciary duty to safeguard and account for money, property, and documents entrusted to the agent. That is the best description of the relationship, right, or legal concept tested here.

Answer Options
A
Reasonable care
B
Accountability
C
Secret profit
D
Lawful instruction

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Related Topics & Key Terms

Key Terms:

fiduciary_dutiesagencyaccountabilityfiduciary
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