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What are the duties of real estate and business agents under common law?
What are the duties of real estate and business agents under common law?
Under common law the duties of an agent include:
To perform obligations under the agency contract and follow instructions that are lawful and are not unreasonable.
To perform duties with due care and skill.
To act in good faith in the principal's interest.
Not to divulge confidential information acquired in the course of the agency appointment.
To keep their client's money separate from the agent’s money and to account to the principal for monies received or expended on the principal's behalf.
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