Asked by Luthando Bongobi on Apr 30, 2024
Verified
An agent's obligation to act in the interest of the principal is known as the duty of performance.
Duty of Performance
An agent’s obligation to perform the duties specified in the agency agreement and to do so with reasonable skill and care.
- Acquire knowledge of the responsibilities and privileges of agents and principals mutually.
Verified Answer
RG
Ronaldo GomezMay 02, 2024
Final Answer :
False
Explanation :
Courts suggest that the duty of loyalty is perhaps the most important duty an agent owes to a principal.Because the agency relationship is a fiduciary relationship (i.e.,a relationship of trust),the agent has a responsibility to act in the interest of the principal.The agent carries out her duty of loyalty to the principal in a number of ways,including avoiding conflicts of interest and protecting the principal's confidentiality.
Learning Objectives
- Acquire knowledge of the responsibilities and privileges of agents and principals mutually.