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Corporate fiduciary duties demand that the "fiduciary," (who is given legal control over funds), establishes a "standard of care" that rejects normal self interest for the benefit of the corporation's finances. The fiduciary must not take advantage of or betray the confidence of the entrusting parties.

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13y ago

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What are the principles of the fiduciary duties created by a contract of agency?

The law


What is a fiduciary receipt?

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They are in breach of their fiduciary duties. They can be sanctioned by the court or forfeit their bond.


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That would be a breach of their fiduciary duties.


What are the fiduciary duties created by a contract of agency are principles of?

The fiduciary duties created by a contract of agency are principles of loyalty, obedience, disclosure, confidentiality, and care. These duties require the agent to act in the best interests of the principal, follow their instructions, provide all relevant information, keep the principal's information confidential, and act with reasonable care and diligence. Violating these duties can result in legal consequences for the agent.


What fiduciary duties do directors owe to shareholders?

Directors owe fiduciary duties to shareholders, including the duty of loyalty and the duty of care. The duty of loyalty requires directors to act in the best interests of the shareholders and the company, while the duty of care requires directors to make informed and prudent decisions.


What are the duties of a real estate agent?

When an agent is hired to represent his/her client an agency relationship is formed whereby the agent owes the client fiduciary duties, that include, loyalty, obedience and confidentiality.


What are duties of trustee?

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In a fiduciary relationship in real estate transactions, there are legal obligations and responsibilities that require the fiduciary (such as a real estate agent) to act in the best interests of their client. This includes providing honest and accurate information, avoiding conflicts of interest, and maintaining confidentiality. Failure to fulfill these duties can result in legal consequences for the fiduciary.


What is the difference between home owners association and bodies corporate?

Body corporate, according to BusinessDictionary.com, is a legal entity identified by a name. The law grants these entities rights and duties which are different from the rights and duties members of the body corporate enjoy as individual persons. The association may also have rights and duties to its membership. So, you could say that all homeowner associations are bodies corporate, but not all bodies corporate are homeowner associations