Duties Owed by Agents

Question 1

In return for reasonable compensation and reimbursement of expenses, the agent owes the principal which 3 duties?

Answer 1

1. Duty of Care
2. Duty to Obey Reasonable Instructions
3. Duty of Loyalty, which means:
   — No Self-dealing
   — No Usurping principal’s opportunities
   — No Secret Profits

Question 2

If the agent breaches any one of their duties, what are the 3 remedies available for the principal?

Answer 2

(1) P may recover LOSSES caused by the breach
(2) INDEMNITY
(3) Have agent DISGORGE profits they made