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“Standard of Care” vs. “Standard of Conduct”
“Standard of Care”
When evaluating an agent/principle’s performance one would compare their performance to what a similar agent/principle would’ve done in that situation. ... Ed did not use the standard of care practiced by most real estate agents. ... (I am not sure exactly what would happen in this particular case, but in many cases a party can be held liable for losses incurred resulting from practicing poor standard of care
“Standard of Conduct”
This has to do with the principle-agent’s degree of loyalty that he or she practices.
Approximate Word count = 496 Approximate Pages = 2 (250 words per page double spaced)
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