Which of the Following Is NOT True

question 50

Multiple Choice

Which of the following is NOT true?

• A) The existence of a fiduciary duty means that a lawyer cannot, as a general rule, act for a purchaser and vendor at the same time.
• B) A fiduciary duty exists when there is an existing contract between the professional and the client.
• C) A fiduciary duty requires complete fidelity and loyalty to the other party.
• D) The principles for determining damages for breach of contract and breach of fiduciary duty are not necessarily the same.
• E) A fiduciary duty requires that a professional avoid situations that give rise to a conflict of interest.

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Definitions:

Shareholders

Persons who own units of ownership interest called shares of stock in a corporation. Also called stockholders.

Foreign Trade Antitrust Improvements Act (FTAIA)

A U.S. law that extends the reach of domestic antitrust laws to certain significant foreign trade or commerce activities that have a direct, substantial, and reasonably foreseeable effect on U.S. trade or commerce.

American Antitrust Law

American Antitrust Law consists of regulations enacted by the United States government to prevent monopolies and promote competition, ensuring fair and free market practices.

American Company

A business entity that is registered, operates, or has its primary base of operations within the United States of America.