BUSINESS ADMINISTRATION
BUSINESS LAW
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Guru and devotee
|
|
|
Creditor and debtor
|
|
|
Solicitor and client
|
|
|
Mother and daughter
|
Detailed explanation-1: -Parent and Child: The relationship between the parent and the child is of fiduciary nature and hence, parents to act in good faith for the benefit of child to safeguard and to protect the interest of the child.
Detailed explanation-2: -For example, a lawyer and a client have a fiduciary relationship. So do a trustee and a beneficiary, a corporate board and its shareholders, and an agent acting for a principal.
Detailed explanation-3: -Some examples of fiduciary relationships are listed below: Brokers and principals. Trustees and beneficiaries. Attorneys and clients.
Detailed explanation-4: -The following people are not considered fiduciaries: Stock Brokers. Insurance Agents. Real Estate Agents acting on the other party’s behalf (This is common when you are buying, as most real estate agents are acting on behalf of the seller.)