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Unit 14 Ch 33 Agency Formation 75 Minutes i Saved If an agent makes agreements on behalf of the principal in a fiduciary relationship of trust and confidence, is the principal liable? 15 Multiple Choice 00:49:37 No, because although the principal is a fiduciary, an agent is not a fiduciary. O Yes, because an agent is a fiduciary only if the principal and agent agreed by written contract that the agent is a fiduciary O No, because an agent is a fiduciary only If the principal and agent agreed by written or oral contract that the agent is a fiduciary O No, because an agent is only a fiduciary to the principal if a transaction In excess of $10,000 is Involved, Yes, because an agent is a fiduciary to the principal. Mc Graw