Which of the following is true regarding the status of an agent as a fiduciary?
A) Although a principal is a fiduciary,an agent is not.
B) An agent is only a fiduciary if the principal and agent agreed in a written contract that the agent would be a fiduciary.
C) An agent is only a fiduciary if the principal and agent agreed by written or oral contract that the agent would be a fiduciary.
D) An agent is only a fiduciary to the principal if a transaction of $10,000 or more is involved.
E) An agent is a fiduciary of the principal.
Correct Answer:
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