Which of the following statement(s) concerning agency law is (are) true? I. A contract is needed to have an agency relationship. II. The agent owes a fiduciary duty to the principal. III. The principal owes a fiduciary duty to the agent.

Which of the following statement(s) concerning agency law is (are) true? I. A contract is needed to have an agency relationship. II. The agent owes a fiduciary duty to the principal. III. The principal owes a fiduciary duty to the agent.

Which of the following statement(s) concerning agency law is (are) true?
I. A contract is needed to have an agency relationship.
II. The agent owes a fiduciary duty to the principal.
III. The principal owes a fiduciary duty to the agent.





a. I and II only.
b. I and III only.
c. II only.
d. I, II, and III.


Answer: c


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