Fiduciary Duties Owed By Agent Flashcards
1
Q
Duties Owed by Agent
A
Duty of Loyalty, Duty of Obedience, Reasonable Care
2
Q
Duty of Loyalty
A
Avoid secret profits, avoid conflicts of interest
3
Q
Duty of Obedience
A
Obey reasonable instructions of principal
4
Q
Reasonable Care
A
Notify Principal of matters, act as a reasonable prudent person acting in their own affairs.
5
Q
Remedies for Breach of Fiduciary Duties
A
Constructive trust for benefit of principal. Agent receives profits from breach DISGORGEMENT in favor of principal
