Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Samwise works as a diamond buyer for Frodo, owner of the jewelry store Rings, Etc. Without Frodo's knowledge or consent, Samwise has also been working

Samwise works as a diamond buyer for Frodo, owner of the jewelry store Rings, Etc. Without Frodo's knowledge or consent, Samwise has also been working as a diamond sales agent for Sauron Mines. On several occasions he has sold Sauron Mines's diamonds to Frodo for inflated prices and then pocketed the difference. Also, because of his position with Sauron Mines, Samwise has become aware that a supposedly impending strike by diamond workers in Sauron Mines, which has been driving up diamond prices, has been avoided. This information would be relevant to Frodo and material to decisions Frodo will be making about Rings, Etc. Samwise does not tell Frodo that the strike has been averted. Which of the following fiduciary duties to Frodo has Samwise breached in this situation?
Multiple Choice
The duty of loyalty.
The duty not to disclose confidential information to third parties.
The duty to notify the principal of material information.
The duty to account.
All of these duties.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Restaurant From Concept To Operation

Authors: John R Walker

7th Edition

1118629620, 9781118629628

More Books

Students also viewed these General Management questions