You Contract with Sal, a Stock Broker, to Act as Your

question 32

Multiple Choice

You contract with Sal, a stock broker, to act as your agent to buy stocks for you.You specifically instruct Sal that you only want him to buy stocks for you that have a good dividends payment history.Sal carelessly buys you some shares that have never paid dividends.Which of the following describes a legal basis upon which you could claim relief?

• A)Sal's breach of his fiduciary duty of care as an agent
• B)Sal's breach of your implied instructions
• C)Sal's defamation
• D)Sal's breach to the stock vendor's of his warranty of authority
• E)Sal's breach of duty of care owed to you

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Definitions:

Wage And Tax Statement

A document, often referred to as a W-2 form, issued by employers to employees detailing the employee's wages and taxes withheld during the year.

Voluntary Deductions

Employee-elected deductions from their payroll for benefits, contributions, or savings plans.

Salaries And Wages Payable

A liability account that records the amounts owed to employees for work performed that has not yet been paid.

Taxes Payable

Current liabilities representing the amount of taxes owed to governmental authorities that have not yet been paid.