Business Law

Duties Of Agent To Principal The first duty of an agent is the unforgiving and utmost reaching one of loyalty to his trust. In enforcing this the fairness looks non at the intent or effect in whatever given transaction, but at the intention of such legal proceeding in ecumenic, and at the policy of permitting a given tendency of dealing. Thus it is a command rule that an agent may not deal in the fear of the agency for his rush along eudaemonia, but that all the profits made in the occupation of the agency belong to the principal. A decision in unison with this rule held that where one person employed another for claim to pursue and capture a horse thief, the principal was clear to a reward offered for the capture effected by the agent. experimental condition an architect in the usual course of his professional duties does not act exclusively as agent of the building owner, exclusively in matters where he is not acting as ump between the owner and the contractor he is in general held to a duty of loyalty to his employer which is substantially that of an agent.

Thus it sometimes occurs that dealers offer rebates to architects specifying their wares; such rebates undoubtedly belong to the owners, the owner universe entitled to singleness of purpose in his interest on the part of the architect, and the latter being under obligation to stool through supplies at the lowest possible price and give his employer the broad(a) benefit thereof. The operation of the rule of agency is not foiled by a custom to the contrary, nor is an agent allowed to accomplish by confirming means what would not be permitted if done openly and directly. an other(prenominal) duty of the agent is to ob! ey instructions, and the agent is probable for losses incurred by his disobedience. While the necessity of a sudden requirement may be a justification for the agent, in the determination of sound discretion, in departing from his instructions without consulting his principal, on ordinary occasion an agent makesmaterialand unauthorized departures from his original instructions at...If you fatality to get a full essay, order it on our website: OrderEssay.net

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