Which of the following duties does a Montana licensee owe to ALL parties in a transaction, including non-clients?
Correct Answer
C) Honesty — dealing fairly and truthfully with everyone involved
Under Montana law, a licensee owes fiduciary duties such as loyalty, obedience, and confidentiality exclusively to their client. However, honesty and fair dealing are owed to ALL parties in a transaction, including customers who are not represented by the licensee.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
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