Author Question: For an agent to be a fiduciary means to: a. indemnify the principal for any losses incurred in a ... (Read 64 times)

charchew · **on:** Jun 24, 2018

For an agent to be a fiduciary means to:
a. indemnify the principal for any losses incurred in a lawsuit, not including attorney's fees b. have the right and obligation to sell goods belonging to a principal
c. occupy a position of trust, honesty, and confidence with respect to the principal
d. indemnify the principal for any losses incurred in a lawsuit, not including attorney's fees and have the right and obligation to sell goods belonging to a principal
e. indemnify the principal for any losses incurred in a lawsuit, not including attorney's fees and have the right and obligation to sell goods belonging to a principal and occupy a position of trust, honesty, and confidence with respect to the principal

Question 2

On August 1, Neptune Fisheries contracted in writing with West Markets to deliver to West 3,000 pounds of lobster at 4.00 a pound. Delivery of the lobsters was due October 1, with payment due November 1 . On August 4, Neptune entered into a contract with Deep Sea Lobster Farms that provided as follows: Neptune Fisheries assigns all the rights under the contract with West Markets dated August 1 to Deep Sea Lobster Farms.. The best interpretation of the August 4 contract would be that it was:
a. Only an assignment of rights by Neptune.
b. Only a delegation of duties by Neptune.
c. An assignment of rights and a delegation of duties by Neptune.
d. An unenforceable third-party beneficiary contract.