When an Agent Fails to Perform His or Her Duties,liability

question 27

True/False

When an agent fails to perform his or her duties,liability for breach of contract may result.

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Definitions:

Gratuitous Agent

An agent who acts on behalf of another without any compensation for their services.

Duty Of Loyalty

An obligation of fiduciaries to act in the best interest of the beneficiaries or the entities they serve, avoiding conflicts of interest.

Sales Agent

An individual or entity authorized to sell and market products or services on behalf of another party, known as the principal.

Personal Bank Account

An account maintained by an individual at a bank or other financial institution for the purpose of managing personal funds.