3. Agency - Duties Owed by Agent to Principal Flashcards Preview

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Flashcards in 3. Agency - Duties Owed by Agent to Principal Deck (3):
1

What are the three duties owed by A to P?

1. Duty of care

2. Duty of loyalty

3. Duty to obey instructions when reasonable

2

What three things will breach the duty of loyalty?

1. Self-dealing (at P's expense)

2. Usurp an opportunity from P

3. Make secret profits at P's expense without disclosure

3

What are P's remedies when the duty of loyalty is breached?

1. Recover losses

2. Disgorge profits