Duties of an Agent under a Contract of Agency

1. Duty to Act in Good Faith: An agent must act with honesty and loyalty towards the principal, avoiding any conflicts of interest.
2. Duty of Obedience: The agent is obligated to follow the principal’s lawful instructions and carry out tasks as directed.
3. Duty of Care and Skill: The agent must exercise reasonable care, competence, and diligence while performing their duties, as expected in their field.
4. Duty to Account: The agent must keep accurate records of transactions and account for any money or property handled on behalf of the principal.
5. Duty to Avoid Conflicts of Interest: The agent should not engage in activities or relationships that conflict with the interests of the principal unless consent is provided.