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conflict of interest |
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conflict of interest A situation that presents the possibility of having to choose which side in a transaction will receive the better service, deal, terms, or representation.The conflict may be choosing between two other parties,such as an agent attempting to represent both buyer and seller in a particular transaction,or it may be between the party and another,such as a real estate broker wishing to purchase property listed with that same broker.Rules regarding handling conflicts of interest generally provide a solution through full disclosure to all parties involved or withdrawal from the situation entirely. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| The NAS responds that, if applied, CSPI's conflict-of-interest definition would make it nearly impossible to recruit qualified experts for committee membership. ``His veto of the nutritional supplement bill looks to me like a very clear violation of conflict-of-interest laws. In discussions with the AICPA, IRS representatives have stated that practitioners need not maintain a central file for all conflict-of-interest waivers; rather, these records may be retained with the engagement file. |
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