2. Duties

Question 1

What duties does Principal owe Agent?

Answer 1

(Not fiduciary)

Contractual duties
Reasonable compensation
Reimbursement for expenses
Cooperation with Agent
Not unreasonably interfere with Agent

Question 2

What remedies may Agent exercise if Principal breaches his duties?

Answer 2

Contractual remedies
- Mitigate damages

Possessory lien

• Due amounts
• Compensation for services

Question 3

What duties does Agent owe Principal?

Answer 3

Fiduciary

Contractual duties
Care
Loyalty
Obedience

Question 4

What remedies may Principal exercise if Agent breaches his duties?

Answer 4

Contractual remedies
- Agent must be compensated

Tort remedies

Account for secret profits

Recover actual profits

Withhold compensation

• Intentional breach
• Intentional tort

Terminate agency