An Agent Has Breached His Fiduciary Duty in Which of the Following

question 15

Multiple Choice

An agent has breached his fiduciary duty in which of the following situations?

• A) All of the following choices are correct answers.
• B) Where the agent makes a secret profit.
• C) Where the agent uses information obtained in the course of the agency for his own benefit.
• D) Where the agent competes with the principal.

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Definitions:

Debt Cap

A limit set on the amount of debt that an organization or government may incur.

Congress

The national legislative body of the United States, consisting of the Senate and the House of Representatives.

Chapter 13

A form of bankruptcy in the United States that allows individuals with a regular income to develop a plan to repay all or part of their debts.

Repayment Plan

A strategy or arrangement agreed upon to pay back borrowed money, often detailing the time frame and amounts due.