An Agent Has a Duty to Notify His Principal of All

question 261

True/False

An agent has a duty to notify his principal of all facts relevant to the purpose of the agency.

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Definitions:

Borrowed Funds

Money obtained through loans, typically used for business ventures or investment with an expectation of repayment.

Incumbent Management

The current team operating and managing a company, particularly during an attempt of take-over or acquisition.

Management Buyout

A transaction where a company's management team purchases the assets and operations of the business they manage.

Proxy Contest

is a situation where two or more factions within a company's shareholders compete for votes in order to control decisions made by the board of directors.