Which of the Following Is a Duty Owed by a Principal
Which of the following is a duty owed by a principal in an agency relationship?
A) reimburse the agent for out-of-pocket expenses
B) fiduciary duty to uphold the trust placed by the agent
C) retroactively acknowledge authority of agents
D) ratify all contracts within prescribed time limits
In law, which of the following is synonymous with an agent's duty to show utmost good faith to the principal?
A) the ethics rule
B) the trust rule
C) the conflict rule
D) the profit rule
What constrains a lawyer's ability to place herself in a position where her own interests conflict with the interests of the principal?
A) a profit rule
B) a trust rule
C) a constraint rule
D) a conflict rule
What would an insurance agent who fails to advise a client that a form of requested coverage is unavailable likely be found by a court to have committed?
A) breach of insurance standard
B) breach of fiduciary duty
C) breach of agency of insurance
D) breach of enduring contract