Nathan and Oliver Are Fishermen

question 37

Multiple Choice

Nathan and Oliver are fishermen.They agreed that Oliver would take Nathan's fish to the market in Vancouver and sell them on Nathan's behalf along with Oliver's own fish.Oliver took Nathan's fish and his own fish to the market and set up a stall.As it happened, Oliver sold all of his fish and only half of Nathan's fish.Oliver did nothing to try to promote the sale of his fish over Nathan's.He simply put all the fish on a table in two piles and let the customers choose.Which of the following is TRUE?

• A)Nathan can claim damages from Oliver for breaching his fiduciary duty as an agent to act in the best interests of Nathan.
• B)As a fiduciary, Oliver should never have put himself in a position where his personal interest in selling his fish conflicted with his duty as Nathan's agent to do his best to sell Nathan's fish.
• C)Oliver is not in breach of his fiduciary duty because Nathan knew and impliedly authorized Oliver to sell his own fish along with Nathan's.
• D)Oliver is not in breach of his fiduciary duty because he did not violate any express instructions from Nathan regarding how he was to sell the fish.
• E)Oliver can be sued by Nathan for damages selling his own fish without Nathan's authority.

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Definitions:

Contract Maturity

The predetermined date on which a financial contract, such as a bond or a futures contract, expires or is settled.

Stock Price

The monetary value at which a company’s stock is traded on the market, influenced by factors like company performance and market conditions.

Premium

The amount by which the price of a bond or other security exceeds its principal amount or face value.

American Put Option

An American put option is a financial derivative that gives the holder the right, but not the obligation, to sell a specified quantity of an asset at a predetermined price before or on the option's expiration date.