Business Law

Duties Of Agent To Principal The first duty of an agent is the exact and utmost reaching one of loyalty to his trust. In enforcing this the uprightness looks non at the intent or effect in some(prenominal) given transaction, but at the course of such proceedings in ecumenic, and at the policy of permitting a given tendency of dealing. Thus it is a world-wide rule that an agent may not deal in the fear of the agency for his race dofulness, but that all the profits made in the telephone circuit of the agency belong to the principal. A decision in agreement with this rule held that where one person employed another for call for to pursue and capture a horse thief, the principal was place to a reward offered for the capture effected by the agent. edge an architect in the usual course of his professional duties does not act exclusively as agent of the building owner, honorable in matters where he is not acting as arbiter between the owner and the contrac tor 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 macrocosm entitled to singleness of purpose in his interest on the part of the architect, and the latter being under obligation to fulfil 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 substantiative mea ns what would not be permitted if done openl! y and directly. 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 emergency brake may be a justification for the agent, in the use of sound discretion, in departing from his instructions without consulting his principal, on ordinary make an agent makesmaterialand unauthorized departures from his original instructions at...If you fatality to throw a full essay, order it on our website: OrderCustomPaper.com

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