Agency
Client
The party a brokerage represents and owes fiduciary duties to
Also called the principal. The relationship is created by agreement, and everything in the fiduciary list — loyalty, confidentiality, obedience — is owed here and nowhere else.
How the exam asks about it
Set against customer in nearly every agency item. A person becomes a client by agreement, not by being helpful to or friendly with an agent.
Related terms
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