An agent is a person who is authorized to act on behalf of another person, known as the principal. The agent is responsible for representing the interests of the principal and carrying out tasks as instructed by the principal. As such, the agent has a number of duties towards the principal that must be fulfilled.
One of the primary duties of an agent is to act in the best interests of the principal. This means that the agent must prioritize the needs and goals of the principal over their own interests. The agent should also act with the level of care and diligence that a reasonable person would use in similar circumstances.
Another important duty of an agent is to maintain confidentiality. The agent should not disclose any information about the principal or their business without the express consent of the principal. This includes maintaining the privacy of any confidential documents or information that the agent may come into contact with during the course of their work.
The agent also has a duty to keep the principal informed of any developments or decisions that may affect their interests. This includes providing regular updates on the progress of tasks and any potential risks or issues that may arise.
In addition to these duties, the agent must also adhere to any instructions or guidelines provided by the principal. If the agent is unsure about any instructions or feels that they may be unethical or illegal, they should seek clarification from the principal before proceeding.
Finally, the agent must act loyally towards the principal and not engage in any activities that may conflict with the interests of the principal. This includes avoiding any actions that may benefit the agent personally at the expense of the principal.
In summary, the duties of an agent towards their principal include acting in the best interests of the principal, maintaining confidentiality, keeping the principal informed, following instructions, and acting loyally. By fulfilling these duties, the agent can effectively represent the interests of the principal and maintain a positive working relationship.
Duties Of An Agent Towards His Principal Free Essay Example
Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Case Example : In Keppel v. Carol is strongly considering offering her personal services to the representatives firm? Reasonable reimbursement includes the cost of travel, meals, lodging, incidental expenses, etc. Prior to enactment of the aforesaid Act, partnership business used to be governed by the Indian Contract Act, 1872. Lorem ipsum dolor sit amet, consectetur adipiscing elit.
DUTIES OF AN AGENT AND PRINCIPAL webapi.bu.edu
The amount the employer has to pay for the insurance depends on the number and seriousness of claims made—how dangerous the work is. This is because the first agent is responsible to bring the parties or third party to come to a negotiation with the principal. These may be categorized as contract and tort duties. Lorem ipsum dolor sit amet, consecrisus ante, dapibus a molest ur laoreet. It should be noted that, in many cases, a specific restraint of trade clause will be included in the agency agreement. Pellentesque dapibus eff usce dui lectus, congue vel laoreet ac, dictum vitae odio.
Duties of a Principal to an Agent
Unfortunately, due to the illness, Hasyim cannot delegate his duties as an agent to Saiful. Unfortunately, when Bob does a poor job and his airline goes bankrupt. Nam lacinia pulvinar tortor nec facilisis. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. An agent has the duty of loyalty to act for the principals advantage and not to act to benefit herself at the principals expense.
14.2: Duties between Agent and Principal
If the loss is partial like partial loss of sight , the recovery is decreased by the percentage still usable. Courts are apt to be liberal in construing statutes to include those who might not seem to be employed. Pellentesque dapibus efficitur laoreet. The nature of the employment; was such information handled by the agent habitually, normally or only occasionally?. The sample paper on Duties Of An Agent Towards His Principal familiarizes the reader with the topic-related facts, theories and approaches. If the agent has actual notice or reason to know of information that is relevant to matters entrusted to him, he has a duty to inform the principal. Hasyim can be terminated by operation of law by using section 154 of Contracts Act 1950 which the agent, Hasyim complete performance of the contract that being agree between him and Saiful, the principal.
Duties of Agent to a Principal
If there are no amounts being agreed, the agent is entitled to reasonable amount based on quantum meruit or based on how much the works have been done by the agent. The nature of the information; 3. Lorem ipsum dolor si ac, dictum vitae odio. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. This duty imposes an obligation on agents to keep their property and money separate from that of their principal. This doctrine, which has been much criticized, is discussed in Chapter 33.
