Asked by Joshua Gagen on Jul 12, 2024
Verified
A fiduciary duty of care may also arise in a situation where a professional agrees to perform a service without a fee.
Fiduciary Duty of Care
A legal obligation of one party to act in the best interest of another when entrusted with a particular responsibility.
Professional Service
Services offered by individuals or firms with specialized knowledge or skills, usually requiring certification or licensing.
Without a Fee
A situation where services are provided or actions are taken without any charge.
- Comprehend the concepts of fiduciary responsibility and their consequences for relationships between professionals and clients.
Verified Answer
MT
Marifer TorresJul 14, 2024
Final Answer :
True
Explanation :
A fidiciary duty of care can arise in any professional relationship where trust is placed in the fiduciary to act in the best interests of the client, regardless of whether a fee is charged for the service.
Learning Objectives
- Comprehend the concepts of fiduciary responsibility and their consequences for relationships between professionals and clients.