Remembering the acronym OLD CAR lets you remember the fiduciary duties an agent owes to a consumer.
Duties is something that one is expected or required to do by ethical or prison obligation. the binding or obligatory pressure of something this is morally or legally proper; an ethical or criminal obligation. an action or challenge required with the aid of someone's position or profession; feature: the responsibilities of a clergyman.
A duty (also referred to as a responsibility) is something that a citizen is required to do, by regulation. Examples of obligations/obligations are: obeying legal guidelines, paying taxes, defending the state, and serving on juries.
Duties can be labeled as follows: 1) legal obligations and ethical responsibilities: A legal obligation is an act the alternative of that is a felony wrong. it's miles an act recognized as a responsibility through regulation and treated as such for the administration of justice. A moral or natural obligation is an act the opposite of which is an ethical or natural wrong. Rights are what we need others to do for us while responsibilities are the acts that we should carry out for others. accordingly, a proper comes with a duty to show recognition for the rights of others. The obligations that accompany rights are in the form of duties.
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