Duties of the Parties to Each Other

Question 1

Agent’s Duties

Answer 1

(1) Undivided loyalty
(2) Strict obedience
(3) Reasonable care

Question 2

Principal’s Remedies

Answer 2

Damages, accounting for the agent’s secret profits, and withholding compensation

Question 3

Principal’s Duties

Answer 3

(1) To reasonably compensate the agent and to reimburse him for all expenses or losses reasonably incurred in discharging any authorized duties
(2) Duties imposed by the contract; and
(2) A duty to cooperate in carrying out the purpose of the agency

Question 4

Agent’s Remedies

Answer 4

Damages for breach of contract, and an agent’s lien on any property the agent holds for the principal.