Question

distinguish 8 of the common law duties that every agent owes principal (regardless of nature of the agency)

Answer 1

Common law duties that every agent owes principal are given below:-

• Duty to follow directions given, agent must contact the business of principal according to the direction given by the principal.
• Duty of reasonable care and skill,agent much skill as generally possessed by persons engaged similar bussines.
• Duty to renter account, agent to keep money and property of principal and true and correct acvoacc of transactions.
• Duty to communicate in case of defulde,and obtian sustainable instructions from principal.
• Duty to pay overall amount, subject to any lawful deduction for remuneration properly incurred.
• Duty to pass the information to the principal
• Duty not to deligate his authority to another persons.
• Duty not to disclose confidencial information to third party.
• Duty to protect the interest of the principal