Because the agent in an agency relationship is acting on behalf of another person, the law has long imposed legal duties on agents. These duties result from the fact that in an agency relationship the principal must trust and rely on the agent to accomplish the object of the relationship. Relationships involving trust and reliance are considered “fiduciary” relationships.

The common law imposes six legal duties on fiduciaries. They are the duties of loyalty, obedience, disclosure, confidentiality, diligence, and accounting. With the exception of the duties of confidentiality and diligence, fiduciary duties are fairly easy to understand.
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