Duties agent owes to principal Flashcards

1
Q

3 duties

A

1) duty of loyalty
2) duty of care
3) duty to obey instructions that are reasonable

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2
Q

Duty of loyalty: agent may never do any of the following 3 things:

A

self-dealing: agent can’t receive a benefit to the DETRIMENT of the principal

usurping the principal’s opportunity

secret profits: making a profit at PRINCIPAL’S EXPENSE w/o disclosure

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