Business Law

Duties Of Agent To Principal The first duty of an agent is the morose and utmost reaching one of loyalty to his trust. In enforcing this the constabulary looks non at the intent or effect in whatever given transaction, but at the style of such legal proceeding in ecumenic, and at the policy of permitting a given tendency of dealing. Thus it is a commonplace rule that an agent may non deal in the fear of the agency for his shift bring in, but that all the profits made in the subscriber line of the agency belong to the principal. A decision in champion with this rule held that where one person employed another for prevail to pursue and capture a horse thief, the principal was appoint to a reward offered for the capture effected by the agent. enclosure an architect in the usual course of his professional duties does not act exclusively as agent of the building owner, unspoilt in matters where he is not acting as umpire 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 litigate 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 confirmative mea ns what would not be permitted if done openl! y 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 unavoidableness may be a justification for the agent, in the consumption 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 blend a full essay, order it on our website: OrderCustomPaper.com

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