Fiduciary in Agency Law.

Weekly Learning Objective: Learner will review the elements of the relationship between agent principal.

Using the Blog Rubric listed below for the specific grading criteria, complete the following:

It is often said the concept of "fiduciary" is at the heart of agency law. Research and define what it means to be a "fiduciary" or to possess a
"fiduciary duty." Identify and describe the five duties an agent is said to owe his principal. Give an example where you have seen or
experienced the concept of a fiduciary relationship in your own personal or business lives. Have you have been involved in a situation where
you felt a fiduciary duty had been breached? Were you correct, and if so, why?

1. Use the same blog you created in Week 3.
2. Post a new blog entry that addresses the information above.
3. In the Blackboard Discussion Boards>Week 5: Blog #2, create a thread titled with your first and last name, and post the link to your blog by Day 3.
4. Select a blog of one of your peers to review. Post your response to the Discussion Board thread (not the actual blog) by Day 7.

Support your thoughts using a minimum of two academic, peer-reviewed sources (outside the textbook). Websites such as Wikipedia,
LegalZoom, LegalMatch, Nolo, etc. do NOT count as academic sources. A good place to start is the Davenport University Library. Substantial blog
entries should contain at least 1200 words.

Answer preview

As representatives of their principals, agents must ensure that personal interests do not overshadow their ability to advocate for the interests of their principals (Wyse, 2008). If an agent recognizes that their interests might hamper their ability to represent a principal, they should bring such information to their principal’s attention. An agent should never benefit at the expense of their principal. The only interests that should carry the day are the principal’s interest and not the agent’s.  Failure to do this occasions some level of harm upon an agent. At times the commission owed to them might get withheld, or they might even assume liability, which results in them paying damages to the party that suffered harm as a result of their activities (Wyse, 2008).

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