D is corrent. Although there is typically a contract between the principal and agent in an agency relationship, this is not required. For example, a principal may authorize a friend to act as his/her agent, and the agent might consent to do it as a favor. Additionally, the agent owes the principal fiduciary duties regardless of what duties are imposed by an employment contract.
A is incorrect because although the agent owes the principal a fiduciary duty, the reverse is not true.
B is incorrect because one of the important concepts is that an agent owes the principal a fiduciary duty whether they have a contract or not.
C is incorrect because although agents owe the principal a fiduciary duty, they do not owe such to third parties they deal with in the capacity of the agent authorized by the principal.
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