Asked by
Shista Shrestha
on Nov 30, 2024Verified
A(n) __________ is a person in a position of trust and confidence who has a duty of utmost loyalty and good faith.
A) fiduciary
B) servant
C) independent contractor
D) principal
Fiduciary
An individual or organization that acts on behalf of another person or persons, putting their clients' interest ahead of their own, with a duty to preserve good faith and trust.
Utmost Loyalty
The highest level of faithfulness and allegiance one can show to another party, often used in contexts involving organizational, professional, or personal relationships.
Good Faith
The genuine desire to remain equitable, transparent, and truthful, no matter what the result of the engagement is.
- Understand the diverse responsibilities an agent must uphold to a principal, encompassing loyalty, observance, and meticulousness.
Verified Answer
TB
Learning Objectives
- Understand the diverse responsibilities an agent must uphold to a principal, encompassing loyalty, observance, and meticulousness.