Multiple Choice
Which of the following is true regarding the status of an agent as a fiduciary?
A) Although a principal is a fiduciary,an agent is not.
B) An agent is only a fiduciary if the principal and agent agreed in a written contract that the agent would be a fiduciary.
C) An agent is only a fiduciary if the principal and agent agreed by written or oral contract that the agent would be a fiduciary.
D) An agent is only a fiduciary to the principal if a transaction of $10,000 or more is involved.
E) An agent is a fiduciary of the principal.
Correct Answer:
Verified
Correct Answer:
Verified
Q122: The Big Sale.Christy,the owner of ABC department
Q123: Describe the two key exceptions to the
Q124: A(n)_ power of attorney is a written
Q125: Agency relationships must be created by expressed
Q126: Melinda,who works in a jewelry store owned
Q127: What type of relationship typically exists when
Q129: An agency coupled with an interest is
Q130: A power of attorney is a document
Q131: Nasty Break-Up.Harold wants to purchase a lot
Q132: Agents who go beyond their authority when