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Restatement (Third) of Agency § 8.01 (2006).
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1What is an agent’s duty of loyalty?
What is an agent’s duty of loyalty?2If an agent engages in an ordinary act or transaction that is a breach of the duty of loyalty, may the principal consent to that act or transaction?
If an agent engages in an ordinary act or transaction that is a breach of the duty of loyalty, may the principal consent to that act or transaction?3A woman instructed her agent to inquire about a large parcel of land that was being offered for sale. While inspecting the parcel of land, the agen...
A woman instructed her agent to inquire about a large parcel of land that was being offered for sale. While inspecting the parcel of land, the agent noticed a small parcel of land for sale across the street and decided to submit a bid for the small parcel on his own behalf. The woman ultimately submitted an offer for the large parcel, and the offer was accepted. The woman then inspected the large parcel of land, and she noticed the small parcel across the street and put in a bid for that property as well. However, ultimately, the agent’s bid was the winning bid for the small parcel. Upon learning that the agent had outbid her for the small parcel, the woman was furious.Did the agent compete with the woman and, therefore, violate the agent’s duty of loyalty?4In the agency context, what does the duty to avoid competition with the principal prohibit an agent from doing?
In the agency context, what does the duty to avoid competition with the principal prohibit an agent from doing?5What is an agent’s duty against self-dealing?
What is an agent’s duty against self-dealing?6A man had an agent who represented him at various auctions to bid on pieces of art from the seventeenth century. A woman wanted to retain the same ...
A man had an agent who represented him at various auctions to bid on pieces of art from the seventeenth century. A woman wanted to retain the same agent to attend the same auctions and bid on pieces of art from the eighteenth century. The agent accepted the work from the woman. The agent did not tell either the man or the woman that the agent was working as agent for more than one principal at the auctions, because the agent believed that the scope of her work for each principal was different enough to prevent any conflicts of interest. Did the agent violate any of her fiduciary duties by not to disclosing the arrangements to the two principals?7In the agency context, what are the agent’s duties of performance?
In the agency context, what are the agent’s duties of performance?8In the agency context, what does the duty of good conduct require an agent to do?
In the agency context, what does the duty of good conduct require an agent to do?9In the agency context, what does the duty to provide information require an agent to do?
In the agency context, what does the duty to provide information require an agent to do?10Does an agent have any duty with respect to his principal’s property?
Does an agent have any duty with respect to his principal’s property?11What general duties does an agent owe a principal?
What general duties does an agent owe a principal?12In the agency context, what does the duty of good faith require a principal to do?
In the agency context, what does the duty of good faith require a principal to do?13In the agency context, what does the duty to indemnify require a principal to do?
In the agency context, what does the duty to indemnify require a principal to do?14What are the primary duties that a principal owes to an agent?
What are the primary duties that a principal owes to an agent?