Between Which of the Following Parties Would a Fiduciary Relationship

question 46

Multiple Choice

Between which of the following parties would a fiduciary relationship exist giving rise to a presumption of undue influence?

• A)Between a bus driver and a regular passenger.
• B)Between an account and his client
• C)Between a lawyer and his client
• D)Both A and C
• E)Both B and C

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Definitions:

Medium of Exchange

A mediating tool or mechanism designed to ease the process of buying, selling, or exchanging products among individuals or entities.

Federal Reserve

The primary banking authority in the United States, tasked with setting monetary policy, supervising banking institutions, ensuring the stability of the financial system, and delivering financial services.

Bank Failures

The circumstance where a bank fails to meet its obligations to its depositors or creditors, leading to its insolvency or being shut down by regulatory agencies.

Excess Reserves

The reserves held by banks over and above the legally mandated minimum to meet potential withdrawals by customers.