Jones, an agent of Rossi, is authorized to sell Rossi's ownership of wheat on the commodities market on Monday. On Monday, however, the market opens with the lowest prices for wheat in two decades. Jones must go ahead and sell Rossi's wheat on Monday.

Question

Quizplus · Accepted Answer

Jones, as an agent, has a fiduciary duty to act in the best interest of Rossi. If selling on Monday would result in a significant loss due to historically low prices, Jones should seek further instructions from Rossi or delay the sale if possible, unless explicitly instructed otherwise.

Jones, an Agent of Rossi, Is Authorized to Sell Rossi's