Author Question: Which of the following is not a duty owed by the agent to the principal: a. compensation b. ... (Read 47 times)

Anajune7 · **on:** Jun 24, 2018

Which of the following is not a duty owed by the agent to the principal:
a. compensation
b. reasonable care c. accounting
d. notification
e. all of the other choices are required

Question 2

Union Bank lent 200,000 to Wagner. Union required Wagner to obtain a life insurance policy naming Union as beneficiary. While the loan was outstanding, Wagner stopped paying the premiums on the policy. Union paid the premiums, adding the amounts paid to Wagner's loan. Wagner died, and the insurance company refused to pay the policy proceeds to Union. Union may:
a. Recover the policy proceeds because it is a creditor beneficiary.
b. Not recover the policy proceeds because it is a donee beneficiary.
c. Not recover the policy proceeds because it is not in privity of contract with the insurance company.
d. Not recover the policy proceeds because it is only an incidental beneficiary.