Agency
Fiduciary duty
The duties an agent owes their client: obedience, loyalty, disclosure, confidentiality, accounting, reasonable care
Commonly remembered as OLD CAR. They are owed to the client alone and they are demanding — loyalty means putting the client’s interest ahead of the agent’s own, and confidentiality survives the end of the relationship.
How the exam asks about it
Obedience covers lawful instructions only. A client’s instruction to conceal a known material defect does not have to be followed, and following it is misrepresentation.
Related terms
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