Asked by
Colin Phillips
on Nov 30, 2024Verified
An agent has breached his fiduciary duty in which of the following situations?
A) All of the following choices are correct answers.
B) Where the agent makes a secret profit.
C) Where the agent uses information obtained in the course of the agency for his own benefit.
D) Where the agent competes with the principal.
Fiduciary Duty
A legal obligation of one party to act in the best interest of another. Typically, a fiduciary is responsible for managing the assets of another person or of a group of people.
Secret Profit
Financial gain obtained secretly and unethically as a result of one's position or through the exploitation of confidential information.
- Identify situations that constitute a breach of fiduciary duty by an agent.
Verified Answer
EG
Learning Objectives
- Identify situations that constitute a breach of fiduciary duty by an agent.