If an Agent Competes with His Principal Without the Principal's

question 358

Multiple Choice

If an agent competes with his principal without the principal's consent:

• A) he is violating his duty of obedience and performance
• B) he is violating his duty of cooperation
• C) he is violating his duty to reimburse
• D) he is violating his duty to play fair
• E) none of the other choices are correct

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Definitions:

Marketability

The ability of a product or service to be sold or accepted in a market.

Free Transferability

The ability to freely transfer ownership of an asset or securities from one party to another without restrictions.

Reasonable Time

A period of time that is legally accepted as sufficient or suitable under the circumstances.

Demand Instrument

A financial document that requires payment to the holder on demand or at a pre-defined time.