BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Agents owes fiduciary duties to the principal such as loyalty, confidentiality. A real estate broker who becomes an agent of a seller or buyer is deemed to be a fiduciary. Agent is authorized to create a contract between his principal and third party.

Detailed explanation-2: -A duty of loyalty is one of the most fundamental fiduciary duties owed by an agent to his principal. This duty obligates a real estate broker to act at all times solely in the best interests of his principal to the exclusion of all other interests, including the broker’s own self-interest.

Detailed explanation-3: -In brief, fiduciary duty is a requirement that a person in a position of trust, such as a real estate agent, broker, or executor, must act in good faith and honesty on behalf of a client. Fiduciary duty is a legal obligation of the highest degree for one party to act in another’s best interest.

Detailed explanation-4: -a. When an agent is appointed to facilitate or negotiate a transaction on behalf of the principal, the agent owes a duty to the principal to act in the principal’s best interests within the authority of the agent.

Detailed explanation-5: -Because the principal has trusted the agent to supervise or protect the principal’s property, the agent owes a fiduciary duty to the principal. This means the agent is obligated to act in the best interests of the principal.