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Agency - Coggle Diagram
Agency
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Duties of A
(A) Duty of Loyalty (A is a fiduciary and must act solely for the benefit of P) (1) Duty to not act with the P as an adverse party (2) Duty to refrain from acquiring a material benefit (3) Duty not to ussurp a business opportunity (4) duty not to compete; (5) duty to disclose if working for multiple P; (6) Duty not to use confidential information
(b) Performance duties: (a) act in accordance with term of k; (b) duty of care (act with care. competence, and diligence by As in similar circumstance in the community (c) act within the scope of authority and follow P reasonable instructions, (d) Duty to prove relevant information to P (e) duty to provide accounting and keep P's property separate from A's
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Duties of P to A
(1) Deal Fairly and in Good Faith (Provide A with all risks that P knows about in A's line of work) (2) Good Faith in K (3)Duty to Pay Compensation (depends on terms of k) (4)Duty to Not Interfere with A's work, (5) Duty to Indemnify (unless otherwise agreed to, P has a duty to indemnify the A against losses suffered in connection with the agency relationship)