Fiduciary Duties COLD AC Flashcards

Fiduciary Duties COLD AC Flashcards Fiduciary Duties 6Confidentiality - An agent owes the principle confidentiality in carrying out agency obligations.Fiduciary Duties 4Disclosure - An agent in duty-bound to inform the principal of certain relevant facts concerning the transactions partucularly those mandated by state law.Fiduciary Duties 1Care - An agent must exercise a reasonable degree of care in transaction the principal's business.Fiduciary Duties 5Accounting - An agent must be able to report the status of all funds received from or on behalf of the principle.Fiduciary Duties 2Obedience -An agent must act in good faith at all times, with obedience toward the principal's lawful instructions, in accordance with the agency agreement.Fiduciary Duties 3Loyalty - An agent must place the principal's interest above those of all others, including the agent's own interest.