BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -An agent has the duty of loyalty to act for the principals advantage and not to act to benefit herself at the principals expense. An agent is expected to refrain from undertaking actions personally that would conflict with the purpose of the agency.

Detailed explanation-2: -Duty to perform subject to such express terms the agent owes a number of implied duties or obligations to his principal. The primary duty of the agents is to perform the contract in line with the terms or instructions of the principal as failure to do so amount to a breach of contract and the agent is held liable.

Detailed explanation-3: -A duty of loyalty is one of the most fundamental fiduciary duties owed by an agent to his principal. This duty obligates a real estate broker to act at all times solely in the best interests of his principal to the exclusion of all other interests, including the broker’s own self-interest.

Detailed explanation-4: - Indemnification: Subject to the terms of the agency agreement, the principal has a duty to compensate, or indemnify, the agent for liabilities arising from the agent’s lawful and authorized acts on the principal’s behalf.