The concept of conflict of interest as it relates to the law of agency includes which of the following?
A)An agent may take a position that conflicts with the principal only if the principal, with full knowledge of all the facts, consents.
B)An agent may not represent her principal in a transaction in which the agent has a personal interest.
C)An agent may not act on behalf of adverse parties to a transaction without both principals' approval of the dual agency.
D)All of the above.

Question

Quizplus · Accepted Answer

The concept of conflict of interest as it relates to the law of agency includes all of the options given. An agent must obtain full knowledge of facts and consent from the principal when taking a position that conflicts with the principal. The agent may not represent a principal in a transaction in which the agent has a personal interest. Finally, an agent may not act on behalf of adverse parties to a transaction without both principals' approval of the dual agency. Therefore, all options are correct.

The Concept of Conflict of Interest as It Relates to the Law