Anything that an agent obtains by virtue of an agency relationship is held in a constructive trust and thereby belongs to

A) the principal.
B) the agent.
C) the party from whom the agent obtained it.
D) the equitable trust.

Question

Jasmine B Pearson · Accepted Answer

Final Answer : A, Explanation :  In an agency relationship, anything obtained by the agent due to their position or actions on behalf of the principal is held in a constructive trust for the principal. This means that such gains or benefits legally belong to the principal, not the agent or any other party.

Anything that an agent obtains by virtue of an agency relationship is held in a constructive trust and thereby belongs to

A) the principal.
B) the agent.
C) the party from whom the agent obtained it.
D) the equitable trust.

Definitions

Learning Objectives

Learning Objectives

Related questions

Anything that an agent obtains by virtue of an agency relationship is held in a constructive trust and thereby belongs toA) the principal.B) the agent.C) the party from whom the agent obtained it.D) the equitable trust.

Definitions

Learning Objectives

Learning Objectives

Related questions

Anything that an agent obtains by virtue of an agency relationship is held in a constructive trust and thereby belongs to

A) the principal.
B) the agent.
C) the party from whom the agent obtained it.
D) the equitable trust.