Business Law

Duties Of Agent To Principal The first duty of an agent is the unbending and utmost reaching one of loyalty to his trust. In enforcing this the rectitude looks non at the intent or effect in some(prenominal) given transaction, but at the trend of such proceedings in ecumenic, and at the policy of permitting a given tendency of dealing. Thus it is a popular rule that an agent may not deal in the fear of the agency for his give birth public assistance, but that all the profits made in the product line of the agency belong to the principal. A decision in whiz with this rule held that where one person employed another for authorise to pursue and capture a horse thief, the principal was give to a reward offered for the capture effected by the agent. stipulation an architect in the usual course of his professional duties does not act exclusively as agent of the building owner, retributory in matters where he is not acting as arbiter 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 beingness entitled to singleness of purpose in his interest on the part of the architect, and the latter being under obligation to compass 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 verific atory means what would not be permitted if d! one openly and directly. some other duty of the agent is to obey instructions, and the agent is probable for losings incurred by his disobedience. While the necessity of a sudden want may be a justification for the agent, in the subroutine 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 suck a full essay, order it on our website: OrderCustomPaper.com

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