An agent owes a fiduciary duty to his principal; a director owes a fiduciary duty to

the corporation; partners owe a fiduciary duty to the firm and to the other parties.

Which of the following is not true with regard to one’s fiduciary duty?

a. A partner secretly competing with his own firm would be in breach of his

fiduciary duty.

b. A shareholder owning a business that secretly competes with the corporation

is in breach of fiduciary duty.

c. A fiduciary is in a position of trust and owes true loyalty to the person

depending on him.

d. An agent would be in breach of his fiduciary duty if he let his interest conflict

with his duty.

e. An agent failing to disclose to his principal all information relating to the

principal’s business transaction would be a breach of his fiduciaryduty.

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