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In a principal-agent relationship, moral hazard might occur if
Duties
Obligations that individuals or entities are required to perform, often under the law or by contract.
Honesty
A moral character trait that entails being truthful, trustworthy, and sincere in one's thoughts, speech, and actions.
Fiduciary Duty
A legal obligation of one party to act in the best interest of another. The obligated party is typically someone entrusted with the care of money or property, like a trustee or legal guardian.
Legal Obligation
A duty enforced by law, requiring an individual or organization to follow or avoid a particular course of action.
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