Duties

Question 1

Agent’s duties to the principal

Answer 1

Duty of Care, duty of loyalty, and obediance to lawful instructions

Question 2

What is the duty of care required?

Answer 2

Reasonableness varrying upon any special skills the agent may have

Question 3

Examples of duty of loyalty

Answer 3

Can’t use position to profit for themselves; must act solely for the benefit of the P; must refrain from dealing with P as an adverse party; can’t compete with P; can’t use P’s property for A’s own purpose

Question 4

What is result if A does not follow P’s lawful directions?

Answer 4

Agent will be liable to the P for any loss that P suffers

Question 5

P’s remedies for A’s breach

Answer 5

Contract actions, tort actions, actions for secret profits, equitable actions for accounting, imposition of constructive trust, withholding of compensation

Question 6

P’s duties to A

Answer 6

All duties imposed by the contract, reasonable compensation, and reimbursement for expenses