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DUTIES OF AN AGENT TOWARDS PRINCIPAL - Coggle Diagram
DUTIES OF AN AGENT TOWARDS PRINCIPAL
TO ACT ACCCORDING TO CUSTOM WHEN INSTRUCTIONS ARE NOT GIVEN
agent is bount to conduct the business
agent must act acccording to custom and trade
agent has to act according to normal standard in doing business
TO OBEY THE PRINCIPAL'S INSTRUCTION
agent must follow the instruction of the Principal
agent is liable for any loss sutained by the Principal
agent only has to follow the instruction given
cases : TURPIN v. BILTON
TO EXERCISE CARE , SKILL AND DILIGENCE
agent must act with reasonable diligence and displays skill
cases : KEPPEL v. WHEELER
TO RENDER PROPER ACCOUNTS WHEN REQUIRED BY THE PRINCIPAL
agent must produce an account for all money or property
including secret profits received by the agent
cases : LYELL v. KENNEDY
TO PAY HIS PRINCIPAL ALL SUMS RECEIVED ON BEHALF OF THE PRINCIPAL
agent must pay his principal all sums received on the principal's behalf
agent may retained or deduct out sum money received on behalf of the pricipal
agent has the right to retain the principal's property in his possesion