Question

An agent who accepts a bribe to purchase goods for a principal only from a seller who is a personal friend breaches his _____ duty by taking the money, since it is the agent's duty to work only for the best interests of the principal.

statutory

fiduciary

expressed

apparent

Answer 1

B.

Step-by-step explanation:

is a legal obligation where one party is obligated to act in the best interest of the other. In this situation, the Agent is expected to act in the best interest of the Principal, but he broke his fiduciary duty, the moment he decided to accept bribe from a seller who is a personal friend. He's no longer acting in the best interest of the Principal again but rather in the best interest of himself and his friend.

When someone has a fiduciary duty to someone else, the person with the duty must act in a way that will benefit someone else, usually financially. The person with the fiduciary duty is called the Fiduciary and the one whom the fiduciary is obligated to is called Principal or Beneficiary.