Fiduciary Duties Flashcards
1
Q
Agent’s fiduciary duties
A
(1) the duty to act with reasonable care and skill;
(2) the duty to act loyally for the principal’s sole benefit (i.e. the agent cannot place his own interests above the interests of the principal); AND
(3) the duty to act obediently within the principal’s control (i.e. to act within the agent’s actual authority and to follow the principal’s instructions).
2
Q
Agent’s breach
A
the principal may recover losses from and profits made by the breaching agent.
