Business Law

Duties Of Agent To Principal The first duty of an agent is the fastidious and utmost reaching one of loyalty to his trust. In enforcing this the jurisprudence looks non at the intent or effect in whatever given transaction, but at the aim of such minutes in ecumenic, and at the policy of permitting a given tendency of dealing. Thus it is a familiar rule that an agent whitethorn not deal in the fear of the agency for his bring avail, but that all the profits made in the pipeline of the agency belong to the principal. A decision in champion with this rule held that where one person employed another for drop dead to pursue and capture a horse thief, the principal was give to a reward offered for the capture effected by the agent. barrier an architect in the usual course of his professional duties does not act exclusively as agent of the building owner, simply in matters where he is not acting as ump between the owner and the contractor he is in general h eld 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 cosmos entitled to singleness of purpose in his interest on the part of the architect, and the latter being under obligation to extend to 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 indirect means what would not be permitt ed if done openly and directly. another(pre! nominal) duty of the agent is to obey instructions, and the agent is probable for losses incurred by his disobedience. While the necessity of a sudden touch may be a justification for the agent, in the aim of sound discretion, in departing from his instructions without consulting his principal, on ordinary cause an agent makesmaterialand unauthorized departures from his original instructions at...If you fatality to ingest a full essay, order it on our website: OrderCustomPaper.com

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