Final answer:
An agency creates a fiduciary relationship where the agent must act in the principal's interest with duties mirroring Ross's ethical principles, such as fidelity, reparation, gratitude, promoting good, and non-maleficence.
Step-by-step explanation:
An agency gives rise to a fiduciary relationship and imposes on the agent, as the representative of the principal, certain duties, obligations, and high standards of good faith and loyalty. In a legal context, this type of relationship is one where the agent is entrusted with the responsibility to act on behalf of the principal, particularly in situations involving a degree of trust and confidence. Drawing parallels with Ross’s ethical principles, one can find that the agency relationship encompasses similar moral imperatives. The agent must demonstrate a duty of fidelity by keeping promises and being trustworthy. Similarly, the agent must adhere to the duties of reparation and gratitude by acting in the principal's interest and reciprocating the trust granted to them. In addition to these duties, the agent must ensure the promotion of the principal's good and avoid actions that may cause harm, highlighting the duty of non-maleficence.