Asked by Lasha Petree on May 25, 2024
Verified
A person in a position of trust and confidence is known as a(n) ________.
A) third-party beneficiary
B) principal
C) fiduciary
D) independent contractor
E) employer
Fiduciary
A person or entity entrusted to manage assets or interests of another with a duty to act in their best interest.
Trust
A fiduciary relationship in which one party holds legal title to property for the benefit of another.
- Recognize the fiduciary duties agents owe to principals and the consequences of breaches of these duties.
Verified Answer
VY
Vikas YadavMay 29, 2024
Final Answer :
C
Explanation :
A person in a position of trust and confidence is known as a fiduciary.When an agent agrees to act on behalf of a principal,the agent is a fiduciary,and as such owes certain duties to the principal.
Learning Objectives
- Recognize the fiduciary duties agents owe to principals and the consequences of breaches of these duties.
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