Agency
Under Ohio agency law, an agent who receives 'secret profits' from a transaction without the principal's knowledge and consent is:
APermitted if the profit is less than the commission
BIn violation of the fiduciary duty of loyalty✓ Correct
COnly responsible if the profit exceeds $500
DExempt if they disclose it after closing
Explanation
An agent who receives any undisclosed profit from a transaction violates their fiduciary duty of loyalty. All compensation received in connection with a transaction must be disclosed to the principal.
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