Susan gives her daughter Kathy a power of attorney to sell a lakefront lot for $100,000. Pursuant to the power of attorney, Kathy contracts for and sells the lot. The buyer makes out a check for the lot in Kathy’s name. Kathy cashes the check and keeps the money. Has Kathy breached any duty to Susan?
Fill in the blank(s) with the appropriate word(s).
Kathy is an attorney in fact of Susan pursuant to the power of attorney. Kathy is an agent of Susan and as an agent owes a fiduciary duty to Susan. One of the duties of an agent is to account for any money belonging to the principal (Susan) that comes into the possession of the agent. Kathy has breached this duty to Susan.
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