Question

Who owes fiduciary duties in an agency relationship?

a. the broker only
b. the principal only
c. both parties
d. neither party

Answer 1

In an agency relationship, both the broker and the principal owe fiduciary duties to each other.

Step-by-step explanation:

In an agency relationship, both the broker and the principal owe fiduciary duties to each other. A fiduciary duty is a legal obligation to act in the best interests of another party. The broker must act in the best interests of the principal, and the principal must provide the necessary resources and support to the broker.