Asked by Alicia Ebding on Jul 05, 2024
Verified
An agent must keep confidential any information acquired through an agency during the term of the relationship, but can disclose it after the agency ends.
Confidential Information
Any data or information that is proprietary to a company and not to be shared with competitors or the general public.
Agency Relationship
A legal relationship in which one party, the agent, acts on behalf of another party, the principal, in transactions with third parties.
Disclose
To reveal or make known information that was previously private or secret.
- Familiarize oneself with the duties of fidelity and diligence agents are bound to towards principals, and the effects of breaches of such duties.
Verified Answer
MS
Manasvi SharmaJul 12, 2024
Final Answer :
False
Explanation :
An agent has a duty of confidentiality that extends beyond the termination of the agency relationship, meaning they cannot disclose confidential information acquired during the term of the agency even after the relationship ends.
Learning Objectives
- Familiarize oneself with the duties of fidelity and diligence agents are bound to towards principals, and the effects of breaches of such duties.