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Business Law - Lesson 26.1 Activity

AB
Agents owe their principals the __ of loyalty, care, and skill, confidentiality, and accountingFiduciary duties
An agents core duty is the __Duty of loyalty and obedience
The separate accounts for the funds of principals are called __Trust accounts
The duty of __ requires the agent to exercise the degree of skill and care that a reasonably prudent person would use in a similar situationReasonable care and skill
__ is mixing the funds or property of the principal and the agentCommingling
The duty of __ means that the agent may not secretly benefit from the agency transactionLoyalty
The duty of __ requires the agent to treat information about the principal with great cautionConfidentiality
Agents may neither buy from nor sell to their __ or their __ without approval from their principalsFriends, relatives
An agent is required to __ to the principal any information that would affect the principal's decisionCommunicate
The __ requires an agent to account to the principal for all money and property of the principal that comes into the agents possessionDuty of accounting


Business Education Teacher
Clinton-Graceville-Beardsley Schools

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