DUTIES OF AGENT & PRINCIPAL NOTES

DUTIES OF AGENT

 Section 164 – Obey the principal’s instruction.

– Act in the best interest of principal.
 Section 165 – Exercise care and diligence.
 Section 166 – Render proper account.
 Section 168 – Not let his personal interest conflicts with his duty.
– Not make any secret profit.
 Section 171 – Pay to his principal all the sum received on his behalf.
 Not to disclose confidential information.
DUTIES OF PRINCIPAL

 Section 175 – Duty to indemnity agent for lawful duties.

 Section 176 – Duty to indemnity agent for acts done in good faith.
 Section 178 – Duty to compensate agent for injury caused by the principal’s neglect.
 It is also the duty of the principal to provide lien/license (access for the agent to the property)
TERMINATION OF AGENCY
Section 154
 Act of Parties
 Mutual Consent
 Unilateral
 Revocation by principal
 Renunciation by agent
 Operational of Law
 Performance of contract
