Which of the Following Statements Is True of Contracts Having

question 46

Multiple Choice

Which of the following statements is true of contracts having fiduciaries?

• A) Agreements by fiduciaries that favor the interests of a third person at the expense of their principals' interests are considered legal.
• B) Any agreement that tends to induce a fiduciary to breach his or her fiduciary duties is considered legal.
• C) A fiduciary is a provision in a contract that attempts to relieve one party to the contract from liability for the consequences of his or her own negligence.
• D) A fiduciary can lawfully enter an agreement by fully and fairly disclosing the conflict to his or her principal or beneficiary in advance.

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Definitions:

Strike

The withholding of labor services by an organized group of workers (a labor union).

Exclusive Union

A labor union that only represents workers from a particular company or industry, often having restrictive membership criteria.

Labor Supply

The total hours that workers are willing and able to work at a given wage rate in a specified time period.

Minimum Wage

The lowest legally permissible wage that employers can pay their employees.