Which of the following is NOT a fiduciary duty owed by an agent to their principal?
Question & Answer
Review the question and all answer choices
Loyalty
Loyalty is a fundamental fiduciary duty requiring agents to act solely in their principal's best interests, avoiding conflicts of interest and disclosing any potential dual agency situations.
Obedience
Obedience is a fiduciary duty requiring agents to follow their principal's lawful instructions while still exercising professional judgment and maintaining ethical standards.
Guaranteeing a sale
Disclosure
Disclosure is a fiduciary duty requiring agents to reveal all material facts that could affect the transaction, known only to the agent, that impact the principal's decision-making.
Why is this correct?
Guaranteeing a sale is not a fiduciary duty because agents cannot control market forces, buyer decisions, or property conditions that affect sales outcomes. Making such a guarantee would constitute misrepresentation and breach of the duty of honesty.
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