Elements of the Law Relating to Vendors And Purchasers

Cover Elements of the Law Relating to Vendors And Purchasers
Elements of the Law Relating to Vendors And Purchasers
David Bowen
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' Where no definite instructions are given, or where the exercise of discretion is allowed, the agent must exercise his own judgment with the utmost good faith and in the interests of his principal.^ For any loss occasioned to the principal by the agent's want of proper care, skill or diligence in the performance of his duties, the agent is liable, even though the principal himself has been negligent. * In negotiating contracts the agent must take all reasonable precautions that may be requisit...e for the protection of his principal, and such contracts must be in accordance with his instructions, or in accordance with the usages of the trade, and capable of being enforced by the principal.^ To Account. — It is one of the first duties of an agent to keep an account and to communicate the contents of it to his principal. " The principal of a general agent has no means of knowing, except through the agent's accounts, what the agent has received on his behalf, and if such an agent omits to keep proper accounts the Court will charge him with all moneys he might in the discharge of his duty have received for his principal.^ 1 Kelnerv.

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