Sedate Investment Corporation (SIC)hires Tiger,a real estate agent,to locate investment properties for SIC.Tiger learns of a warehouse avail?able for $100,000,buys it himself,and offers it to SIC for $110,000.Tiger

Question

Quizplus · Accepted Answer

Tiger breached the duty of loyalty by purchasing the property himself instead of presenting the opportunity to SIC. As a real estate agent working for SIC, Tiger had a fiduciary duty to act in the best interest of his client and not use his position to gain personal benefit. He should have presented the opportunity to SIC and not purchased it himself to sell at a higher price.

Sedate Investment Corporation (SIC)hires Tiger,a Real Estate Agent,to Locate Investment