Which of the Following Statements Related to an Agent's Fiduciary

question 19

Multiple Choice

Which of the following statements related to an agent's fiduciary duty is correct?

• A)Despite a recent Supreme Court of Canada decision,it is likely that agents will continue to have a fiduciary duty to their principals,where an agent has agreed to act in the principal's best interest,but only if this agreement is in writing.
• B)Despite a recent Supreme Court of Canada decision,it is likely that agents will continue to have a fiduciary duty to their principals,where an agent has agreed to act in the principal's best interest.
• C)As a result of a recent Supreme Court of Canada decision,agents no longer have a fiduciary duty to their principals except in matters involving monetary transactions.
• D)As a result of a recent Supreme Court of Canada decision,only agents who are also employees have a fiduciary duty to their principals.
• E)As a result of a recent Supreme Court of Canada decision,only agents who are employees or dependent contractors have a fiduciary duty to their principals.

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Definitions:

Strong Axiom

A principle or rule with robust implications or requirements, though more context is needed for a specific field application.

Revealed Preference

An economic concept referring to the idea that consumers' choices, reflected in their purchasing decisions, reveal their preferences for certain goods or services over others.

Weak Axiom

In economic theory, a principle stating that if a consumer prefers bundle A to bundle B, then they will not prefer B to A when prices change, keeping income constant.

Revealed Preference

A theory suggesting that consumers' preferences can be determined by observing their purchasing behavior and the choices they make among different goods.