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

Even though an agent acts on behalf of their principal, it does not give them authority to act arbitrarily and autonomously unless that’s acceptable to a principal v. As long as the instructions given to agents by a principal lack ambiguity, they have to comply with every aspect of the instructions handed to them. In the case directions emanating from a principal are ambiguous, agents have to seek clarification from their principals. Reasonability also features heavily with respect to the duty to obey. Reasonability is subjective, but in most cases, it gets pegged upon the accepted practices within an industry. Therefore, agents have an obligation to abide by the directives issued by principals faithfully. However, there are instances when an agent can deviate from the guidelines handed to them. Whenever an agent provides a particular professional service to a principal, they have the autonomy to act as they see fit, as long as it is in the furtherance of the principal’s interests (Wyse, 2008).

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Principal-Agent Relationship