In a single agency relationship, who is the party to whom the broker owes fiduciary duties?

Study for the Florida Mutual Recognition Test. Use flashcards and multiple choice questions, each with hints and explanations. Prepare thoroughly for your exam!

Multiple Choice

In a single agency relationship, who is the party to whom the broker owes fiduciary duties?

In a single agency, the broker’s fiduciary duties are owed to the client—the principal who hires the broker. The broker must act in the principal’s best interests, showing loyalty, confidentiality, and full disclosure of material facts, while following lawful instructions and properly accounting for any funds. The customer in the transaction doesn’t receive fiduciary duties; the duties are owed to the principal who established the agency relationship. This clarifies why the party is the principal.

In a single agency relationship, who is the party to whom the broker owes fiduciary duties?

Study for the Florida Mutual Recognition Test. Use flashcards and multiple choice questions, each with hints and explanations. Prepare thoroughly for your exam!

In a single agency relationship, who is the party to whom the broker owes fiduciary duties?

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