Which of the Following Is a Fiduciary Duty Owed by an Agent

question 57

Multiple Choice

Which of the following is a fiduciary duty owed by an agent not to act adversely to the interests of the principal?

• A) duty of loyalty
• B) duty of undertaking
• C) duty of discharge
• D) duty of resolution

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Definitions:

Personal Use

The employment of an asset or resource for individual rather than business or commercial purposes.

Division of Income

The method by which a company's profit is distributed among its various stakeholders, including shareholders, employees, and sometimes the government in the form of taxes.

General Partnership

A type of partnership where all partners share equally in both the management responsibilities and the liabilities of the business.

Limited Partnership

A partnership with at least one general partner who manages the business and is liable for debts, and one or more limited partners who are only liable to the extent of their investment.