Anna employs Mark to purchase for her a suitable site for a roller rink.Mark owns a huge site himself and sells it to Anna at fair market value without disclosing to her that he is the owner of the land.Anna may not rescind the transaction, because Mark has not breached his fiduciary duty to his principal.

Question

Quizplus · Accepted Answer

Mark had a conflict of interest as he was both the agent and the owner of the site being sold. He had a duty to disclose this information to Anna, and his failure to do so constitutes a breach of fiduciary duty. Anna may have grounds to rescind the transaction or sue Mark for damages.

Anna Employs Mark to Purchase for Her a Suitable Site