when brokers owe a duty of the highest care and confidentiality to their principals, whose interest they promote even at the cost of some greater benefit to themselves, it is called a(n):

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24-11-2022
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when brokers owe a duty of the highest care and confidentiality to their principals, whose interest they promote even at the cost of some greater benefit to themselves, it is called a(n):

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SidHussain SidHussain · Answer 1 · 2022-12-01T15:28:46+01:00

When brokers owe a duty of the highest care and confidentiality to their principals, whose interest they promote even at the cost of some greater benefit to themselves, it is called a(n) a. Fiduciary relationship

In the field of business, a fiduciary relationship can be described as a kind of relationship in which the position of own of the parties is increased to such a level that the other party causes benefit to it even by overlooking its own benefits.

Brokers are people who have to have strong relationships in order to finalize deals in between sellers and buyers. Doing so, they might interest their clients with high care and confidentiality, sometimes overlooking their own benefit in order to benefit the client. Hence, this is a fiduciary relationship.

Although a part of your question is missing, you might be referring to this question:

when brokers owe a duty of the highest care and confidentiality to their principals, whose interest they promote even at the cost of some greater benefit to themselves, it is called a(n):

a. fiduciary relationship

b. trust relationship

c. contractual relationship

d. none of these

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